Well it's been just over a month since the LISA was launched into the UK market and as this research shows it is expected to impact the way people save and consequently affect other savings vehicles, like workplace pensions.

This research highlights that a third of under 40's will swap some pension savings into LISA, with 10% saying they will leave their workplace pension entirely in favour of LISA.

This is dramatic and worrying news and signals the need for urgent financial education. LISA, like many other savings products, needs to be seen as an additional savings tool alongside pensions, not a replacement. There needs to be much more education around how LISAs and pensions can coexist happily rather than compete; best buddies not arch enemies. 

But who will do this? LISA providers won't because they want to sell more LISA. Pension providers should or they will lose members/ funds under management. Financial educators will - in fact they already do. Advisers certainly will.

Employers also have a vested interest here; not only to protect employee wellbeing and because they are in the best position to influence their staff, but also to protect pension savings and the reason they provide a workplace pension in the first place.

I suspect things may get worse before they get better on this issue. We haven't yet seen the full force of change that the LISA may bring to lifetime savings as at present there are no cash LISAs on offer which may be deterring some more cautious savers. 

But the train has left the station and so time is ticking to reach staff and give them the tools to manage LISA as an option alongside pension to avert large scale abandonment of workplace pensions.