Expert comments on Isa/pensions debate

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Expert comments on Isa/pensions debate

An industry analyst has claimed that people will begin putting their money into Isas rather than pensions where they can, because of the increased allowance on offer.

David Kuo, director of Fool.co.uk, stated that Isas used to be problematic because only £3,600 could be invested in a year, but now that this has been raised to £10,200 consumers have the potential to save more money.

He commented that many people have noticed how much "tinkering" is happening with regards to pensions and decided to switch their money over to an Isa.

Mr Kuo predicted that people will begin to utilise their stocks and shares Isa allowance more in the future too.

"My best advice to people is to squirrel away your nuts whilst you can, because another opportunity like this may not come for a long time," he said.

The new £10,200 Isa limit was announced by Alistair Darling in April and was made available to over 50s on October 6th.

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