Martin Wigginton: Life support system

The individual savings account (ISA) welcomed a new member of the stable, the Lifetime ISA or ‘LISA', in April. LISA joins the Junior ISA (JISA) and the standard ISA - plus a couple of other niche variations - as another tax incentivised means to encourage people to invest for their financial future. Throw pensions into the mix as well, and the choice of wrappers that can hold investments has rarely looked so generous. When the government introduces a new savings initiative, however, there is a danger it simply makes the financial planning landscape more confusing for consumers. The g...