I’ve been wondering for a while about the validity of using ISAs to fund your retirement, as a possible alternative to contributing to a traditional pension. With the complexity surrounding pensions, ISAs could provide a simpler, more accessible option.
There are of course plenty of factors to take into account: tax relief on contributions, annuity rates, contribution levels, accessibility of money etc etc.
In Pensions versus ISAs, The Motley Fool has looked into this subject and has done a more detailed analysis than I could probably do.
Of course, the final conclusion is that both financial products have their merits, and possibly the most sensible answer is to use a combination on both, rather than worrying about whether one is better than the other.
- Pariti: Free App To Pay Off Debt & Start Saving (September 21, 2016)
- Money Dashboard Mortgage Calculator Launched (September 20, 2016)
- RetireEasy: Pension Dashboard & Retirement Planning Tool (October 12, 2016)
- Experian Launches Free Credit Score Service (September 7, 2016)
- Habito Launches “World’s First AI Mortgage Advice Chat Bot” (September 15, 2016)