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Radical changes to ISAs have been announced as one of the major headlines in the Budget today.

The new Lifetime ISA could be used for “other specific life events” apart from buying a first home and for retirement.

The Lifetime ISA has been attacked as a ‘gimmick’ and a ‘competitor’ to pensions - less than two hours after it was revealed.

A new pensions body is to be created as a part of a shake up that includes creating a ‘slimmer’ Money Advice Service.

Nearly a fifth of consumers may be planning to withdraw cash from pensions to drip-feed it into an ISA once they turn 55, according to new data.

Pension holders should be able take out a small amount from their pot to pay for pre-retirement advice, a major review has proposed.

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