Cash ISA transfers end in 2027. Is this a problem if retiring in the next 5 years?
If I understand correctly, from next year we will be unable to transfer from S&S ISAs into cash ISAs.
My FIRE plan has a lot of flex but there is potential for me to hit my number at some point in the next few years. This would include having a sizable ISA bridge.
My aim had been to transfer 3 years' worth of expenses from my S&S ISA to a cash ISA upon retirement, to draw from during downturns in my S&S ISA. However, after next year these changes mean I won't be able to do that.
I'm considering moving 3 years expenses to a cash ISA right now. (Encouraged also by the market having boosted my S&S ISA significantly in the last two years.)
My question is whether this is worth considering, or is a cash ISA not actually that useful for bridging to SIPP access? Does it even matter that we can't transfer into cash ISAs after next year? Perhaps a bond ladder works just as well and can be kept inside the ISA wrapper even after next year. Or maybe cash ISA interest rates are not that competitive against other cash savings accounts, even after tax (I'm a higher rate taxpayer).
Any other general guidance or advice about the above is also welcome.