Isa limit rises for the over-50s
A change enabling millions of savers aged over 50 to increase the amount deposited in a tax-free Individual Savings Account (Isa) has come in.
The amount people can save in an Isa has now risen from £7,200 to £10,200, of which half can be saved in cash and half in stocks and shares.
The new limit, which was announced in this year's Budget, is for anyone born on or before 5 April 1960.
For everyone else, the limit will rise from 6 April 2010.
"I am determined to help savers, because while low interest rates have helped millions of homeowners, I also know that they have hit those who rely on their savings to get by," said Chancellor Alistair Darling.
Source: BBC News
