Michael Johnson, CPS research fellow, gave his thoughts on Lifetime ISAs to the FT Adviser, 17 Marhc 2017, ahea dof their launch in April.
Lifetime ISAs, which Michael Johnson helped to develop, allow people under 40 to start saving up to £4,000 a year plus a 25 per cent government bonus, to go towards either a first home or retirement.
Michael Johnson commented
““What I am desperately keen to see now is a Google or a Microsoft or a Facebook or an Apple offer a Lifetime Isa.
“We’ve got Apple Pay. Apple has already made a foray into financial.”
He said the challenge of encouraging people to take up the Lisa was “distributional” rather than technical. He said if established investment companies were unwilling to offer the Lisa, there was no reason why unconventional providers should not do so.
“I’m not concerned about the wherewithal of the incumbents,” he said.”
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Date Added: Friday 17th March 2017