LISA is 'beginning of the end' for pensions, advisers predict

Advisers at the firm's annual seminar, held this week, were surveyed on their attitude to the LISA, introduced by Chancellor George Osborne in this year's Budget. While the Chancellor was not persuaded to scrap pension tax relief in favour of a much talked about pension ISA he did introduce an alternative to pensions. The LISA allows savers aged between 18 and 40 to save £4,000 a year tax-free with the promise of a 25% bonus if the cash with withdrawn for retirement income or to buy a home. Early access is permitted before age 60 but only to fund house purchases. However, the vast ...