One in ten (11%) cash ISA holders plan to open a Stocks & Shares ISA before the April 2027 tax-free limit changes come into effect, according to a new report.
This rises to one in five (21%) for Generation Z cash ISA holders, according to the research from Opinium.
The report comes ahead of upcoming changes which, from April 2027, will limit the amount of cash individuals can contribute to an ISA each year to £12,000 with some exemptions for older savers.
The overall ISA limit will remain at the current £20,000 in a bid to encourage more people to invest more of their savings, rather than just hold cash.
Just 2% of cash ISA holders have already opened a Stocks & Shares ISA following the announcement of the changes to the tax-free allowance.
Savers are also not planning on moving money already saved. Just 16% of cash ISA holders said they were considering moving money from a cash ISA into a Stocks & Shares ISA.
Two in five (44%) of cash ISA holders said they were definitely sticking with cash.
Nearly half (49%) of cash ISA holders who do not plan to open a Stocks & Shares ISA said it was due to concerns about investment risk. Two in five (38%) said they preferred the security of cash and three in ten (29%) said they did not know enough about investing to open a Stocks & Shares ISA.
The Opinium report found that men were twice as likely (31%) to have a Stocks & Shares ISA than women.
Nearly half of UK adults (48%) said they currently had a cash ISA, compared to a quarter (23%) who have a Stocks & Shares ISA.
Separate research from Flagstone found that Cash ISAs were the favoured savings option, with 67% of savers saying cash ISA was their favourite type of savings option.
Of the 2,000 savers surveyed by Flagstone, 34% with surplus funds saved into cash ISAs. 32% saved into non-ISA savings accounts, and 27% left surplus cash in current accounts. Just 18% invested their funds.
The average amount held in cash ISAs was £20,633. On average, men had £25,297 in cash ISA savings while the average woman has £15,440 - a gender gap of 40%.
Opinium conducted a nationally representative survey of 2,000 UK adults between 13 and 17 March 2026.