Lifetime ISA – this account was set up to help save towards your first home or retirement. You can add Cash or Stocks & Shares into this account between the age of 18-39. The limit is £4000 per year and the government will contribute a 25% bonus to the account, each year, up to a maximum of £1000 per year.
The money can only be withdrawn if you
a) want to buy your first home
b) you are aged 60 or over or
c) are terminally ill with less than 12 months to live. As the government adds the 25% bonus each year, if the money is withdrawn prior to the qualifying criteriWhy an ISA is your Best Friend for Investing?