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

Majority foresee annual allowance cut

Jenna Towler
clock • 2 min read

Some 80% of advisers believe the introduction of the Lifetime ISA (LISA) is the beginning of the end for pensions, a survey from Dentons Pension Management reveals.

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allows savers aged between 18 and 40 to save £4,000 a year tax-free with the promise of a 25% bonus if the cash with withdrawn for retirement income or to buy a home.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 ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Gender pensions gap grows to £113,000

Gender pensions gap grows to £113,000

Report finds more than a third of women are likely to face poverty in retirement

Martin Richmond
clock 18 November 2025 • 3 min read
The FOMO-fuelled run on the pensions bank – where the Treasury is the only winner

The FOMO-fuelled run on the pensions bank – where the Treasury is the only winner

'You can't build a savings culture on a foundation of uncertainty'

Matt Storey
clock 17 November 2025 • 5 min read
Chancellor's potential salary sacrifice plan: A 'high risk gamble built on low quality data'

Chancellor's potential salary sacrifice plan: A 'high risk gamble built on low quality data'

Govt reportedly considering introducing a £2,000 salary sacrifice annual cap

Joseph Warne
clock 14 November 2025 • 4 min read