Government boosts UK Lifetime ISAs with 25% bonus

independent.co.uk

The government offers a 25% bonus on Lifetime ISA (LISA) contributions, up to £1,000 annually, for first-time homebuyers or retirement savers under 40. This bonus is a significant incentive for eligible individuals. LISA holders can contribute up to £4,000 yearly, with the government adding a quarter of that amount. However, withdrawals for non-qualifying reasons, such as purposes other than a first home or retirement, incur a 25% penalty. LISA's are available to those aged 18-39. The savings can be used for a first home or retirement, with a maximum property value of £450,000. Various providers offer different LISA options.


With a significance score of 1.7, this news ranks in the top 30% of today's 29136 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 10,000+ subscribers:


Government boosts UK Lifetime ISAs with 25% bonus | News Minimalist