Chancellor urged to create 'lifetime ISA' to replace pensions

Centre for Policy Studies fellow Michael Johnson says in a paper that this product would simplify and boost savings and would act as a "savings chameleon" by incorporating features typical of both ISAs and pensions. The paper comes after Johnson expressed concerns that debt accumulation and the lack of a savings culture could put the country on the road to "fiscal calamity". The lifetime ISA would involve merging the cash New ISA and stocks and shares New ISA. Among a total of eight proposals, Johnson also called for Junior ISAs to be incorporated into the Lifetime ISA in "due course"...