What is a LISA (Lifetime Individual Savings Account)?

The recent Autumn Budget seems to have included a conscious decision to do nothing when it comes to addressing the savings gap, especially for the younger generation and the millions of low paid or self-employed not impacted by pensions auto-enrolment

When you take into account employer contributions, pensions are the most valuable retirement savings vehicles for employees. But workforce demographics are changing. With 75% of the workforce estimated to be made up of millennials by 2025 [¹] and people working later into life, there’s a growing call for a more 'needs-based' approach to employer sponsored savings that’s not just focused on pensions.

We all know that bringing up kids is not cheap and financial support doesn’t stop when they leave school; in fact, this is when the “big ticket” expenses kick in; their first car, university, marriage and getting on the housing ladder.

As we quickly approach the end of the tax year, are you making the most of Pension and ISA allowances?