Savers should be allowed to raid Lifetime Isas, says their inventor

The Daily Tepegraph reports on comments by Michael Johnson, architect of the Lifetime ISA, suggesting the cost of living crisis meant savers should be able to withdraw funds from LISAs without incurring charges.

Johnson, who first proposed the idea of LISAs in a paper for the Centre for Policy Studies back in 2014, told the newspaper “[t]he initial idea of the Lisa was a savings product to genuinely last a lifetime – with availability from birth and no upper age restrictions” but went on to say “[u]nfortunately, the product in its current form doesn’t offer this and, given the current cost of living crisis, requires a rethink to ensure it is delivering what it was intended to deliver.”

Read the full piece here.

Date Added: Tuesday 16th August 2022