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<p>The Government is committed to supporting people of all incomes and at all stages
of life to save.</p><p> </p><p>Older people will continue to benefit from a number
of measures this Government has introduced in recent years.</p><p> </p><p>The amount
of money that people can save into their ISAs each year (the annual subscription allowance)
has been increased to a record £20,000.</p><p> </p><p>Since April 2016, individuals
have also been able to benefit from a new Personal Savings Allowance of up to £1,000
for basic rate taxpayers and up to £500 for higher rate taxpayers.</p><p> </p><p>As
a result of these measures, over 95% of people with savings income pay no tax on that
income.</p>
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