More than 3m pensioners keep all of their ISA savings in cash, a Freedom of Information request has revealed.

Lifetime ISA (LISA) early withdrawal charges rose by more than 300% to £33m in the 2020/21 tax year, according to a Freedom of Information request.

Savers paid £75bn into 13m new adult ISAs in the 2019/20 tax year, a rise of £7.1bn year-on-year, according to the latest ISA statistics from HMRC.

HMRC has given London Capital & Finance (LCF) ISA investors the green light to reinvest their Financial Services Compensation Scheme (FSCS) compensation payments into a new or existing ISA.