Financial advisers are increasingly proposing individual savings accounts (ISAs) as part of retirement planning alongside pension savings, according to research.

In a poll of 107 investment and retirement specialists, six out of 10 (59%) have changed their recommendations to make more use of ISAs in response to new rules on pension flexibility and limits to the lifetime allowance.
The current allowance for most people is £1.25m but this will be reduced to £1m from 6 April 2016.
Simon Massey, wealth management director at MetLife UK, said: "The £20 billion increase in ISA investments in the last tax year highlights how advisers are right to recognise their importance in retirement planning, which will only grow once the new lifetime allowance comes into effect."
However, the firm said clients remained concerned about the impact of stock market volatility on ISA investments with advisers stating that around 24% of their customers were worried that a crash in the market would 'erode' savings.
"The risks of ISA investment in stocks and shares are being demonstrated by the ongoing stock market volatility with the FTSE suffering along with all global markets. There needs to be solutions which can help combine certainty with flexibility," said Massey.
"Risk proofing retirement remains one of the biggest challenges following the launch of pension freedoms and guaranteed solutions have a major role to play in meeting growing demand."
The research also found one in six clients were concerned about investing in ISAs for retirement as they feared they would spend their savings before retirement, while 28% worried that the government would change rules on ISAs.