The Savings (Government Contributions) Act 2017 received Royal Assent on 16 January. The Act provides for the introduction of the new lifetime ISA from April 2017 and for the help-to-save scheme from 2018.
The Savings (Government Contributions) Act 2017 received Royal Assent on 16 January. The Act provides for the introduction of the new lifetime ISA from April 2017 and for the help-to-save scheme from 2018.
The lifetime ISA will allow adults under 40 years of age to save up to £4,000 a year, with the government giving them a 25% top up on their savings.
Help-to-save will be available through NS&I to adults who receive working tax credit or universal credit, with minimum household earnings equivalent to 16 hours a week at the national living wage. It carries a 50% government bonus on savings of up to £50 a month for up to four years.
The Savings (Government Contributions) Act 2017 received Royal Assent on 16 January. The Act provides for the introduction of the new lifetime ISA from April 2017 and for the help-to-save scheme from 2018.
The Savings (Government Contributions) Act 2017 received Royal Assent on 16 January. The Act provides for the introduction of the new lifetime ISA from April 2017 and for the help-to-save scheme from 2018.
The lifetime ISA will allow adults under 40 years of age to save up to £4,000 a year, with the government giving them a 25% top up on their savings.
Help-to-save will be available through NS&I to adults who receive working tax credit or universal credit, with minimum household earnings equivalent to 16 hours a week at the national living wage. It carries a 50% government bonus on savings of up to £50 a month for up to four years.
