LISA0041

Written evidence submitted by Anonymous

Hello I'd like to share my experience as a user of the LISA for retirement and encourage the committee to retain the LISA but with uprated limits to allow for inflation.

As a self employed sole trader I do not benefit from the 20% tax relief at source on regular PAYE pension contributions.

The LISA is the closest best alternative for lots of people in my situation.

However the maximum deposit limits haven't been increased to allow for inflation, which puts me at an unfair disadvantage against regular PAYE employees.

I don't know how many millions of people are in my circumstances, but I do know we're the ones who are ignored and fall through the gaps, most notably the lack of furlough support.

Please don't remove our best option for preparing for retirement and please consider a new mechanism that automatically increases the limits and contributions in line with inflation.

January 2025