There is growing demand amongst Scottish parents for a shake-up of the Junior ISA (JISA) rules to allow members of the child’s extended family to open accounts for children, according to new research from Scottish Friendly. Under the current rules, only parents or legal guardians can open a JI
Isas
UK families are finding themselves caught between a growing desire to save and the harsh reality of the cost of living crisis, a new report has revealed. The 2025 Scottish Friendly Family Finance Tracker, an annual snapshot of the investing and savings habits of UK households, shows that despite a g
There has been a great deal of speculation about the Chancellor reforming ISA rules in her Mansion House Speech – although, late last week it emerged some of these may be put on hold. There are, nevertheless, good reasons to still look at the issue – not least to confront the UK’s
Chancellor Rachel Reeves has postponed proposed reductions to the tax-efficient cash ISA savings limit following concerted lobbying from banks, building societies, and consumer advocates. The UK government had been anticipated to reveal a significant cut to the current £20,000 annual allowance
Chancellor Rachel Reeves is anticipated to announce a significant overhaul of the UK's savings landscape in her Mansion House speech on 15 July, with plans to reduce the annual tax-free allowance for cash Individual Savings Accounts (ISAs). The move is part of a UK government strategy to encourage s
Scottish investors demonstrated a strong start to the year, with initial contributions to new individual savings accounts (ISAs) surging by an average of 19% in the first quarter of 2025 – the biggest quarterly rise of any UK region, according to Scottish Friendly.
Chancellor Rachel Reeves is set to initiate a review of the UK's Individual Savings Account (ISA) market within weeks, aiming to encourage savers to invest more in UK stocks rather than holding cash.
The UK government has confirmed it is looking to reform ISAs and potentially cut cash allowance, with a focus on balancing cash and equity investments. While Chancellor Rachel Reeves' Spring Statement avoided direct mention of ISAs, accompanying documents revealed plans for a consultation on the sav
Plans to overhaul cash Individual Savings Accounts (ISAs) will not be announced in the upcoming Spring Statement, despite ongoing UK government consideration of reducing the annual contribution limit.
City of London financial firms are lobbying the UK government to overhaul cash ISAs. Companies, including BlackRock and Phoenix Group, have urged Chancellor Rachel Reeves to either scrap or significantly reduce tax breaks on these accounts. Fidelity International proposes reducing the Cash Isa annua
Research by the Building Societies Association has shown that three-quarters (73%) of UK adults with Cash ISAs are against the UK government scrapping or reducing Cash ISAs. Only 8% were supportive, and the others didn’t have an opinion either way. It also highlights that the majority of
The volume of new Junior ISA (JISA) policies opened across the UK in the last quarter was up 12% on the previous quarter, according to the quarterly Scottish Friendly Investor Index. The Index, which uses the modern mutual’s own sales data to track trends in investor behaviour, shows the appet
Research conducted by 3Gem on behalf of Scottish Friendly has revealed that parents would prefer family to contribute to their child's financial future rather than buy the latest toy this Christmas. The research, amongst 1,500 parents, conducted last month, shows that just over half of parents (51%)
New research has revealed that 44% of people with at least one child under six years old have increased their saving in the past two years. However, according to Scottish Friendly, the number reduces as the age of the child increases.
Scottish Friendly’s Family Finance Tracker has revealed that nearly half (46%) of women are opting to hold their long-term savings in a savings account, instead of more tax-friendly options such as a pension or ISA wrappers, compared to 39% of men. Meanwhile, 33% of men are opting to use pensi