Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the First Time Buyer ISA: Consultation, updated 29 June 2026, for what reason the pension saving option has been removed from the First Time Buyer ISA successor scheme which replaces the Lifetime ISA.

The Government is committed to making the aspiration of home ownership a reality for as many people as possible and recognises that the Lifetime ISA (LISA) is not working for everyone. Its dual purpose of supporting both home ownership and retirement saving can create complexity for savers.

The Government therefore consulted on a simpler, first-time-buyer focused ISA product. The consultation closed on 18 August, and we are carefully considering the responses received.

Until the new product is offered it will remain possible to open a LISA. Existing LISA holders, including those currently using the LISA for retirement, will continue to be able to use their accounts in line with the existing rules.

Savers, including the self-employed, will continue to benefit from generous tax relief on pensions savings via workplace and self-invested pensions.