Best Low-Risk Investment Options for Retirees with £100k After Maximising ISAs

We have been saving using fixed savers and have suffered taxation. My wife and, are now investing in ISAs to the taxation limit, but by March 2026 have approximately £100k, which we need to invest in some further way or ways. We are both well retired and in our eighties and live comfortably within our pensions.

We are interested in simple investments and low risk. Can you please advise us as to the best way forward, or do we continue with Atom fixed savers and suffer the tax implications?

We cannot provide you with advice without knowing more about your wider circumstances and objectives. However, some points to consider from a general guidance perspective are as follows:

It’s excellent that you’re already making full use of your ISA allowances. These are a simple and effective way to shelter savings and investment returns from tax. Once those allowances are used, your next steps depend on your goals and wider financial situation.

If your main goal is capital security, then continuing with fixed-rate savings could still make sense, even with the tax implications. You might look at spreading deposits across several providers to stay within the Financial Services Compensation Scheme (FSCS) protection limits. You may then consider moving some of the funds back into ISA accounts in future tax years, to shield more of your capital from tax.

If all your expenses are comfortably covered by your pension income, you might be in a position to take a slightly higher level of risk with these funds - for example, through a well diversified low- to medium-risk investment portfolio.

It’s important to consider your intention for these funds. Are they simply for a “rainy day” or a potential unplanned expense? Or are they funds you are unlikely to ever need personally? In the latter case, you might consider gifting some of these assets to family members, or incorporating them into a wider estate planning exercise to help manage inheritance tax over time.

If you are unsure about what to do next, it would be well worth speaking with a financial adviser. They can review your full situation, help clarify your objectives, and provide personalised advice to ensure your wealth is structured in the most appropriate and tax-efficient way for your needs.

Important information

The information provided is for general guidance only and does not constitute personal financial advice or a recommendation. It is based on current understanding of HMRC rules and tax legislation, which may be subject to change. This response is intended to address your query in general terms; for advice tailored to your specific circumstances, a personalised financial review would be required. Past performance is not a guide to future performance and may not be repeated. The value of investments and the income from them may go down as well as up and investors may not get back the amount originally invested.