This is Money podcast….

Angelica123

https://forums.moneysavingexpert.com/discussion/comment/81913808#Comment_81913808

No one knows the intricacies yet. All we know for certain is that the plan is to lower the cash ISA allowance to 12k for the under 65 year olds and that they will take steps to avoid people using loopholes to bypass it (as shown by the newsletter article about).

No one knows any further. We don't know how ISA providers will logistically manage the different allowances for different age groups.

If you are holding a reasonable amount of cash in a S&S ISA, it would seem prudent to ensure you transfer it to a cash ISA before April 2027.

someone

As an investor using an S&S ISA, if this change makes you nervous or changes your behaviour, write or email your MP.

There are a few alternative options, such as grandfathering current subscriptions or requiring people to wait until the next tax year before moving previous-year subscriptions.

The whole thing has to go to consultation, and if MPs know that people are nervous about the change, they can push for change.

Gsaver1

Is this intervention by Rachel Reeves not age discrimination? ISAs work well just as they are imo. Hopefully the consultation leads to all this getting binned.

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81914582#Comment_81914582

Of course it's age discrimination, but the important thing is that it's not unlawful age discrimination.

Lawful age discrimination is rife throughout financial services, hence age restrictions within pension rules, junior v adult ISAs, LISAs, etc…