New bank account rule for under-65s coming under Andy Burnham and John Healey

NewsCost Of LivingAndy BurnhamBig change from April next year14:27, 29 Jul 2026New savings rules for under-65s are set to be introduced under Andy Burnham and Chancellor John Healey next year. It will be up to Mr Burnham, the new Labour Party government Prime Minister, to administer former Chancellor Rachel Reeves' ISA reforms.‌From April 2027, someone aged 65 or over will still be able to put up to £20,000 into cash ISAs and transfer money from a stocks and shares ISA into a cash ISA. Those under 65, however, will be restricted to £12,000.‌A cash ISA is a specialised type of savings bank account offered by banks and building societies. It allows you to save money and earn interest without paying any UK tax on the profit.‌READ MORE NHS flu jab rule change from September under Andy Burnham