People and Business: Lisa's demise

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ROLL OVER Lisa, Pippa's arrived.

Let me explain. Daniel Godfrey, director general of the Association of Investment Trust Companies (AITC), noticed that the Government's proposals announced last week on pensions seemed to be dumping the acronym Lisa - or "Lifetime Individual Savings Account". Lisas are the Government's idea for allowing people to take out a pension by going direct to a unit trust company.

If Lisa has left town, Mr Godfrey wonders, who should replace her? His suggestion is Pippa - or "Portable Individual Pension Provision Account". He also thought up four other possible acronyms. A commendable use of the director general's time, no doubt.