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Osborne introduces Lifetime ISA for pensions and first homes

Osborne introduces Lifetime ISA for pensions and first homes

The chancellor George Osborne has introduced a new Lifetime Isa which allows anyone under 40 to save up to £4,000 each year tax free, with the government giving savers £1 for every £4 saved. The account, available from April 2017 to those aged 18 to 40, essentially pays the saver an added 25% bonus for any money accumulated before they turn 50. The incentive is equivalent to the tax-free savings on pensions currently available to a basic rate taxpayer.  Please link to International Adviser to read the full article by Monira Matin.

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