Means-tested Benefits: Individual Savings Accounts
(asked on 4th November 2016) - View Source
Question to the Department for Work and Pensions:
To ask the Secretary of State for Work and Pensions, whether his Department considers Lifetime ISA savings as capital for the purposes of capital limits for welfare means testing.
This question was answered on 14th November 2016
Like other forms of saving, the surrender value of the Lifetime ISA will be treated as capital in means tested benefits and therefore subject to capital limits. This was set out in a detailed policy document on the Lifetime ISA from HM Treasury in September.