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Lifetime ISA (April 2017)

Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
Hey guys

Just to let you know that next April (2017), the government will introduce a Lifetime ISA for people who use building societies (Brexit permitting). This is an incentive to anyone between 18-40 who are either saving up for a first home, or for a retirement pension fund.

You can save up to £4'000 a year into the ISA as a lump sum or by putting in cash when you can. At the end of the tax year, the state will add a 25% bonus on top. So if you save £1000, you'll have £1250; and if you save the full £4000, you'll have £5000.

Something a lot of you may want to look at

More information can be found here: http://www.moneysavingexpert.com/savings/lifetime-ISAs

Comments

  • MikeMike Screen addict 🎮 LondonPosts: 2,916 Community Manager
    This is great. Thanks for sharing, Wavy! :)
    All behaviour is a need trying to be met.
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