UK consumers saved more into stocks and shares Isas than personal pensions during the last tax year, according to official figures.

The Office for National Statistics (ONS) has published a new report which shows that savers invested £14.28 billion into personal pensions, excluding stakeholder, during the 2010/11 tax year.

However, for the first time since 2001/2, more was saved into Isas as a total of £15.837 billion was placed in stocks and shares Isas.

Billy Mackay, marketing director at online investment platform and stockbroker service provider A J Bell, said: "The lesson we learn from the success of Isas is that the public likes simple products, a consistent set of rules and confidence that the product will not be the target of continuous government attacks.

"If the government wants pension saving to be successful it must embrace those principles."

During the previous tax year, a total of £12.542 billion was saved in stocks and shares Isas while £14.42 billion was contributed to personal pension plans.