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Individual Savings Accounts: Pensions

Volume 496: debated on Monday 20 July 2009

To ask the Chancellor of the Exchequer if he will assess the merits of permitting persons with a value of £250,000 or over to add the proceeds of such accounts to their personal pension provisions in return for a guarantee of retirement with immediate effect. (287694)

Individual investors are free to use their savings from individual savings accounts as they choose. Any contributions to registered pension schemes will be subject to the tax rules that apply to those schemes. Those rules include limits on the amount of tax relief that is provided.