Save for your first home and a pension at the same time: Young savers handed up to £1,000 a year Budget bonus with new Lifetime Isa

  • Save £4,000 a year and get a £1,000 bonus for a first home or retirement 
  • Lifetime Isa removes need to choose between saving for home or pension
  • Those under-40 can open new saving and investing deal from April 2017
  • Overall Isa limit hiked to £20,000 with Lifetime Isa falling within this 
  • Savers can put money into pensions and Lifetime Isas and get pension tax relief and new bonus 
  • Some industry experts are calling the Lifetime Isa a ‘Trojan horse’ for bringing in a Pension Isa for everyone – and ditching pension tax relief
  • For more of the latest on the 2016 Budget visit
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Even more help to buy: Young workers will no longer have to choose between saving for a home or retirement, with the new lifetime Isa