Individual Savings Accounts
Commons · Question 30272 · Tabled 10 Feb 2025 · Department for Work and Pensions · Official record
Answered 17 Feb 2025
Question
Asked by Daisy Cooper
To ask the Secretary of State for Work and Pensions, if she will make an assessment of the potential merits of treating savings in lifetime ISAs in the same way as pension funds when calculating savings limits for means tested benefits.
Answer
Answered by Sir Stephen Timms, 17 Feb 2025
There are no plans to change the way savings held in a Lifetime ISA are treated in the assessment of means-tested benefits including Universal Credit. The value of the pension fund that someone and their employer pays into protects that person for retirem...