TRANSFER OF CASH ISAS

That this House notes the continuing problems being faced by those savers who depend on interest from their savings, often as a small supplement to their retirement income; recognises that some large financial providers have begun to offer inflation-beating cash ISAs but have restricted these products to new savers; and calls on those banks and others to review their decision to refuse existing savers the option of transferring their ISAs, which in quite a few instances makes the difference between a savings return which is slightly above inflation and one which is below, thus leading to the erosion of the real value of the capital of the saver.