Feb 21 2008
The Tax Incentivised Saving Association (Tisa) has called on the government to introduce rules in its next budget that would make investment bond products more flexible.
According to the association, if the government were to allow bond holders to switch their bond assets to a different product or provider without facing added taxes then they would become more attractive to people saving for retirement.
Furthermore, the organisation is keen to see the rules for investment bonds brought "into line" with other popular tax-incentivised saving products, including child trust funds and individual savings accounts.
"We believe that enabling bonds to be transferred tax-free in the same way as other major savings schemes would further enhance the attractiveness and suitability of this market," explained Tisa's director general Tony Vine-Lott.
Earlier this month, the Saga insurance firm predicted that the costs associated with staying in a care home are likely to double over the course of the next 20 years, which it suggested will add to the financial burden faced by many elderly Britons.
