Four fifths of LISA users also save into workplace pensions

Lisa used as 'top-up'

James Phillips
clock • 2 min read

The Lifetime ISA (LISA) has not caused an exodus from workplace pensions as feared, research by AJ Bell finds.

Some 78% of the product's users say they have continued to contribute into their workplace pension, and more than half (56%) are saving into a LISA to top-up their retirement income. Just 3% of those who had opted out of their workplace pension said they had done so in order to put money into a LISA. AJ Bell's findings, which come from a survey of 400 of its Youinvest LISA customers, will mitigate concerns that the more liquid product would draw young people away from pensions. The savings vehicle was introduced by the government last year and allows savers to put aside up to £4,00...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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