In PA's latest Millennial Money episode, where experts dissect the money issues that matter most to millennials and those who advise them, Steve Webb says he would not be sad to see the back of the Lifetime ISA (LISA).
When asked about the merits of the savings wrapper, the former pensions minister describes it as a confused product because it tries to support both long and short-term investment tactics in its bid to help savers work towards buying a house and save for retirement. "What is the right investment strategy for a product that is both long-term and short-term?" he muses. "To be honest, if it were to die a quick death, I wouldn't be too sad about it." 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 2...
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