Setting up the government's new Lifetime ISA (LISA) on a platform will amount to two-thirds of the costs, time and effort of implementing pension freedom, provider Zurich has said, questioning how widely available the product will be from next year.
Zurich, which is in the process of developing a way to offer the LISA, suggested the product may not be as readily available on platforms from next April as people may expect. This was because the implementation of it was onerous and time-consuming and came at a time when the platform market was undergoing a lot of disruptive change, said head of retail platform strategy Alistair Wilson. Although the rules around the LISA have not yet been finalised, what is known about the product's functionality so far suggests it will be flexible and complex. For instance, while contributions wi...
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