Ian Blackford – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Ian Blackford on 2016-05-18.

To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential effect on levels of pension saving of the introduction of the lifetime ISA.

Mr David Gauke

The Lifetime ISA is a complement to the existing pension system. It will provide savers with greater choice and flexibility in how they save for retirement.

From April 2017, people aged 18 to 40 will be able to save up to £4,000 each year into a Lifetime ISA and receive a 25% bonus from the Government.