"Saga welcomes yesterday's Budget that encourages saving for the future and ensuring those that do so are appropriately rewarded.” Said Saga’s director of communications Paul Green.
“There are a number of announcements in today’s budget that will be music to the ears of the over 50s.
"Many older savers want to be able to save the whole ISA allowance in cash, and the reduced tax on savings income will be a huge boost to those who have saved and done the right thing.
"Trusting people with their money must be the right approach, but with greater longevity the biggest challenge is to make people’s savings last a lifetime.
"Those saving for retirement and the financial services industry need to step up to the challenge to enable savers achieve their retirement dreams.”