Will the Lifetime ISA go down in history as the Trojan horse of pensions?

Pensions industry has serious questions about the 'LISA'

clock • 4 min read

George Osborne's latest surprise, the introduction of the Lifetime ISA in yesterday's Budget, has divided pensions industry opinion, Michael Klimes finds

Just when you think George Osborne cannot surprise you anymore he does. The Chancellor's announcement that a Lifetime ISA (LISA) would be available from April 2017 has raised eyebrows. It targets those under 40 who will be able to save up to £4,000 a year into a tax-free ISA, and for every £4 deposited the government will add a further £1. This will be available until savers are 50-years-old. Osborne claims it is an original way for the next generation to save. However, it has not garnered universal support and some people even think it is a first step to reforming tax relief wholesal...

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