Retired Saver

The_Shopping_God

Hi! My mother is 70years old and has around £20k in a good interest Cash ISA. She also uses a good Regular Savings Account. I wondered if anyone could suggest a better idea for what to do with the money invested in the Cash ISA? She moves it to the best rate each year. If she finds a savings account that pays better interest than the ISA will that impact her tax/benefits? She currently only receives basic pension and is due a reassessment for pension credits at the end of the year. A difficult one for me as I don't want her to jepodise any future benefits by taking money out of the ISA cover. Many thanks!
:beer:

Mikeyorks

Unless she's prepared to take risks with the £20k and move it from 'savings' to 'investments' .. probably best where it is? You posted this question a couple of weeks ago ... and were answered on the subject of impact on pension / benefits... so little point my adding to it.

If her ISA is circa 6.5%+ .... she's not going to do much better with savings accounts (as you said she's moved to the best rate). The max of an extra 0.5% is probably impractical anyway if she doesn't operate online?