Examples of use of LSA
1. People would be able to make regular contributions to the Lifetime Savings Account, or LSA, which would be similar to the current tax–free Individual Savings Account.
2. The LSA would also be free of capital gains tax on investments sold within the fund and allow taxfree withdrawals to buy a pension annuity or to make pension payments.
3. We want to get people into the savings habit early because there is not a lot of saving going on at the moment." The Government would not contribute directly into an LSA and the state pension would still exist but the benefit would be from the account‘s tax–free privileges, Mr Redwood said.