Well, it seems like a no-brainer to store money you intend to spend after age 60 in such an account; for other purposes it does seem less universally useful. I’d also check the treatment of capital gains, and whether it’s included in various assets tests; both can be situationally useful and included in some analogues elsewhere.
I don’t think it’s great for post age-60 actually, as compared with a regular pension, see my reply. The comment on asset tests is useful though, thanks. Roughly LISA assets count towards many tests, while pensions don’t. More details here for those interested: https://www.moneysavingexpert.com/savings/lifetime-isas/
Well, it seems like a no-brainer to store money you intend to spend after age 60 in such an account; for other purposes it does seem less universally useful. I’d also check the treatment of capital gains, and whether it’s included in various assets tests; both can be situationally useful and included in some analogues elsewhere.
I don’t think it’s great for post age-60 actually, as compared with a regular pension, see my reply. The comment on asset tests is useful though, thanks. Roughly LISA assets count towards many tests, while pensions don’t. More details here for those interested: https://www.moneysavingexpert.com/savings/lifetime-isas/