'Use Isas to fund pensions'
A wealth management service is recommending people saving for retirement use Isas as a way of funding their pension contributions.
Research from Fidelity International recently showed that anyone who waits for the launch of personal accounts in 2012 to start saving for retirement could be missing out on a bigger pension pot.
According to the figures, getting a three-year head start by joining a company pension scheme now could mean up to an extra £136 a month in retirement.
Marc Ruse, chartered financial planner at Fiducia, said anyone with an Isa should now "consider transferring part of that fund into a pension fund", as they will see a 20 per cent increase in value when the tax relief is added.
He advised people to get saving for their pensions as soon as possible, adding: "Using your Isa to fund it is a great way of securing more pension money."
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