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The Lifetime ISA (LISA)

In the Autumn 2025 Budget the Chancellor announced a review of Lifetime ISAs. In its present form the Lifetime ISA enables those aged from 18 to 50 to save up to £4,000 per year in a LISA and receive an annual government-paid bonus of 25%. The LISA account has to be opened before an individual turns 40 and if funds are not put towards a first home or pension there is a withdrawal penalty. Savers also have to satisfy a number of other conditions in order to access the LISA penalty-free.

Subsequent updates, including one published on 28 January 2026 have indicated that the review is looking towards a LISA replacement which will be solely geared towards first-time buyers. Furthermore, the bonus element will be paid on the purchase of the house rather than annually as is currently the case. The government has confirmed, however, that pending the launch of the LISA replacement product, savers can continue to set up LISAs under the current rules and that existing LISAs will continue to operate indefinitely without change.

If you are looking for advice on investments or if your situation has changed and you may therefore need to review your existing pensions or investments, contact Beckworth by using one of the links on our website.