MPs have warned that those who invest in a Lifetime ISA (LISA) may get back less money than they put into the scheme.
LISAs are a product for first-time homebuyers or those wishing to save for their retirement that allow savers to deposit up to £4,000 per year under an arrangement that the government will top up the figure by an additional 25 per cent. They can be opened by any adult under 40 in the UK, and contributions count towards each person’s overall £20,000 annual ISA allowance.
