Individual Savings Accounts: Pensions

(asked on 18th May 2016) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential effect on levels of pension saving of the introduction of the lifetime ISA.


Answered by
David Gauke Portrait
David Gauke
This question was answered on 24th May 2016

The Lifetime ISA is a complement to the existing pension system. It will provide savers with greater choice and flexibility in how they save for retirement.

From April 2017, people aged 18 to 40 will be able to save up to £4,000 each year into a Lifetime ISA and receive a 25% bonus from the Government.

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