Three ways to prevent a 'looming pension crisis' for the self-employed

In theory, the self-employed should have been the beneficiaries of the government's new Lifetime ISA. But Hargreaves Lansdown head of retirement policy Tom McPhail (pictured) said the Lifetime ISA would miss much of its target market because they will not be eligible for it. From next April, LISA will be available for 18 to 40 year-olds who will receive a 25% government bonus on up to £4000 of their savings each year. According to McPhail, in 2013/14, out of a self-employed population of 4.2 million, about two-thirds would have been ineligible for a LISA because they were already o...