Over 50s 'should look to maximise ISA investments'

An investment service provider has called for over 50s to ensure they are taking maximum advantage of the investment potential of their individual savings accounts.

Over 50s considering their finance options have been advised to ensure that they take full advantage of the benefits offered to them by individual savings accounts (ISAs).

A new survey conducted by Legal & General has revealed that as many as 76 per cent of its over 50s customers are planning to invest up to its soon-to-be increased savings limit.

The investment service provider applauded the level of financial awareness shown by the over 50s questioned and recommended that older people look to ensure they invest their money as prudently as possible.

Claire Evans, marketing director for Legal & General Savings, reminded consumers that money in deposit accounts will not offer the same tax advantages as it would if invested in an ISA or shares.

She said: "In times of financial uncertainty it is more important than ever for people to ensure that their savings are working as hard as they can."

This comes after a recent survey conducted by financial provider NS&I suggested that older people are more likely to keep a close eye on their finances than younger consumers.

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