The Lifetime ISA is potentially a good savings vehicle for some specific groups of people. The self-employed and those without access to a workplace pension with an employer match may potentially benefit from it.
It is important, however, that it is not seen as a substitute for a workplace pension. Standards of product governance in the LISA are much lower than those in a good quality workplace pension and they do not benefit from a charge cap..
Over the course of 2017 we will work with the FCA and others to make the case for a LISA that does more to safeguard consumers.