It's been on the market for just 16 months but an influential panel of MPs want to see the lifetime ISA (LISA) consigned to history. Here's what three advisers had to say on the potential abolition of the product
A report by MPs on the Treasury Committee, released on Thursday, recommended the government abolish the LISA - the savings product first announced in the 2016 Budget. The report said the inquiry had received "strong criticism" of the product over its "complexity, perverse incentives, its lack of complementarity with the pensions saving landscape and its apparent lack of popularity". The LISA allows those aged between 18 and 50 to save up to £4,000 a year towards a pension or a first home tax free, with the promise of a 25% government bonus capped at £1,000 a year. However, withdrawal ...
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