From: John Boyle 
Newsgroups: uk.finance
Subject: Re: From Drawdown to ISA
Date: Sun, 28 Jan 2007 12:10:15 +0000

In message <521d1uF1h1s34U1@mid.individual.net>, Andy Pandy 
 writes
>Let me make this as simple as possible.
>
>The only reason that your statement "after about 9 - 13 years you will 
>have paid more
>income tax than you saved" is true, is because the deferred tax has 
>grown in value.
>
>You need to disregard any tax you pay purely because the deferred tax 
>has grown in
>value to compare like with like. The ISA strategy would never see that 
>part of the
>investment in the first place.
>
>If you disregard it, then your statement is no longer true. Therefore 
>the statement
>is misleading and of no value in deciding investment strategy.

No, you have missed my point. My statement is 'stand alone' it is not 
one that is linked to, or in favour of ISAs. What you say about ISAs is 
correct, as is my statement about Pensions.
-- 
John Boyle