NS&I announces Premium Bond prize rate cut February 19, 2025 NS&I, the government-backed savings provider, has announced it will cut the Premium Bond prize rate from four per cent to 3.8 per cent in April. The rate had already decreased from 4.15 per cent to four per cent at the beginning of the year. More than 24m people own Premium Bonds, making it the nation’s [...]
City minister takes aim at cash ISAs in call to back the stock market February 5, 2025 The City minister lamented the hundreds of billions of pounds stashed away in cash ISAs today as she called for Brits to invest more money in London’s ailing stock market. Speaking to the Lord financial regulation committee, Emma Reynolds, who took over the role of City minister last month, said the UK had “failed to [...]
Savers get three-month warning over £50bn in maturing ISAs January 30, 2025 Savers are being urged to act as a huge £53.9bn in cash ISAs will mature by April, according to Paragon Bank. Paragon said that £36.4bn of that was held in one-year, fixed-term deals, which are almost certainly paying better rates than savers can get today. Derek Sprawling, savings managing director at Paragon Bank, said: “Over [...]
ISA changes to be government priority in 2025 says AJ Bell boss December 5, 2024 AJ Bell’s boss has said that ISA simplification is expected to be a priority for the government next year. “My understanding is that in 2025 we’ll see some progress on ISA simplification, and we’ll look to engage with government as part of that,” said AJ Bell CEO Michael Summersgill. There had been anticipation of a shakeup in [...]
‘Strong momentum’ continues at investment platform AJ Bell as inflows jump July 18, 2024 Summersgill also said the firm was "actively engaging" with the new government on its pledge to boost retail investment through simplification of the ISA system.
Investment platforms urge ‘radical’ ISA reform to unlock £30bn in UK market July 15, 2024 The bosses of the largest investment platforms in the UK have called for a "radical" simplification of the ISA regime, arguing that reform could unlock £30bn to boost British equities.
Brits flock to cash ISAs as tax hikes bite July 2, 2024 Households deposited £4.2bn into cash ISAs during May, the highest figure for the month. It followed a record-breaking April, which saw a net inflow of £12.3bn.