October 27 2016.



Self-employed people have been identified as potential beneficiaries of the Lifetime ISA (LISA) and for a minority of them this may be true. However, for most of them, the LISA will not fix their long-term savings pensions crisis, according to Hargreaves Lansdown, an investment management and pensions provider.

A report by the organisation finds the number of self-employed workers is rising as the economy quickly evolves to suit a more flexible working pattern, putting a significant strain on their long-term savings.There is a worry that the LISA will miss a large part of its target market, further increasing the collapse of retirement provisions for the self-employed.

Hargreaves Lansdown is calling on the government to include the self-employed in its forthcoming review of auto-enrolment in 2017.

Tom McPhail, head of retirement policy at Hargreaves Lansdown, says, "The self-employed are a rapidly growing segment of the economy, yet savings policy has completely left them behind. Most of them aren’t saving in pensions and most of them aren’t eligible for the forthcoming Lifetime ISA.....


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