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The Care ISA is an ill-thought-out idea

Posted by Adrian Lowcock in Press releases category on 21 Aug 18

“The Care ISA is an ill-thought-out idea.  It will do very little to help the majority of people who need care in their old age because it will only benefit those who are most likely to be able to afford care in the first place and who have already used the existing generous ISA allowance.

“In addition, it will just add to the growing confusion that has surrounded ISAs for the last few years. Each new product added to the range has undermined the simplicity of ISAs. The original concept of ISAs has not been broken so it does not need fixing. They should still be used to save for your future, whether that is for a deposit for your home, income in retirement, providing for your grandchildren or paying for additional care.”