What is a Workplace ISA?

Make the most of your tax efficient investment opportunities before April 5 - look into whether your employer offers a Workplace ISA scheme

Fidelity International 14 March, 2014 | 4:06PM
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This article is part of Morningstar's "Perspectives" series, written by third-party contributors. Here, Julian Webb, Head of DC and Workplace Savings at Fidelity Worldwide Investment answers some key questions about Workplace ISAs, and how they could help you make the most of your savings.

Many British savers take advantage of the tax breaks available in ISAs each year, but fewer people understand the benefits of a Workplace ISA.  As the end of the tax year looms closer, we answer some key questions about Workplace ISAs, and how they could help you make the most of your savings.

Why Would Savers Invest Through a WISA?

While investing through an ISA is the approach taken by most savers, a Workplace ISA means you can make regular payments into your account directly from your payslip. As well as being a convenient and hassle-free way of making contributions, taking a little from your salary each month can be a good way to establish healthy savings habits. This means savers can benefit from the advantages of ‘drip-feeding’ money into the markets over time, allowing the effects of compounding (where the returns you make generate returns themselves) to work their magic as you save throughout your career.

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The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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Fidelity International

Fidelity International  

is a global leader in asset management, providing investment products and services to individuals and institutions in the UK, continental Europe, the Middle East and Asia Pacific.