How can I use my Lifetime ISA for retirement?
You can withdraw the value of your Lifetime ISA when you reach 60 (or any time after). However, you can only pay into your Lifetime ISA until you are 50. Thereafter, your savings will continue to accrue interest (Cash LISA), or receive investment gains or losses (Stock & Shares LISA) in the 10 years in between.
Whether you should consider a Lifetime ISA as either an alternative or complementary savings option for retirement is a complicated question and depends on several factors. If you’re considering a Lifetime ISA for this purpose, we recommend you speak to an independent financial adviser first.