What to do with your Pep: Get ready for the replacement of Peps and Tessas with Isas from April

Article Abstract:

Individual Savings Accounts (Isas) will replace personal equity plans (Peps) and Tessa from April 06 1999. However Peps and Isas will provide exactly the same tax benefits until April 2009, although the amount invested in an Isas will be less, at 7,000 pounds sterling. Pep mortgages have waned in popularity due to uncertainty about their future, but regular payments can be switched to an Isa. Pep pensions can also sometimes be better value than a personal pension plan.

Commercial Banks, Commercial Banking, Consumer Savings

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Savings monitor

Article Abstract:

Notice savings accounts allow money to be withdrawn but usually 30 days-to-90 days notice is required. The best of these is Century, First National 84 and Tesco. Instant savings accounts allow money to be withdrawn without any notice with best buys being Sun Banking Corporation, Tesco, Hinckley & Rugby. Details of both types of savings accounts together with company and cash limits is provided in table form.

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Puzzled by ISAs?

Article Abstract:

Individual savings accounts (ISAs) replaced other forms of tax-free savings from April 1999 and are now offered widely by most providers. ISAs have been devised by the government to encourage people to save more, particularly those who have not saved at all. However the many different ISA options means that selecting the right one can confusing and complicated. A guide to choosing ISAs is presented.

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