The new Lifetime ISA (LISA)

From April 6th you will be able to start saving in to the new LISA (if you can find a provider that offers one!). Contributions to it will form part of the ISA limit which will be £20,000 from April 6th.  The benefit of a LISA is that the Government will top up your contributions.  You can pay a maximum of £4,000 per year and the Government will add 25% to this. To open one you must be between 18 and 40 and the proceeds must be used to buy your first property or for retirement, otherwise a penalty applies.  A complex but potentially beneficial savings plan. Read more here:- http://www.bbc.co.uk/news/business-37318001