Can a 40 year old open a lifetime ISA?
Opening a Lifetime ISA Individuals will be able to open a Lifetime ISA from the age of 18 until they turn 40. Opening a Lifetime ISA will, in most ways, be identical to opening a regular ISA under the existing rules. A lifetime ISA is a type of individual savings account (ISA) that’s designed to help you save for your first home, or to save extra for retirement. You can pay up to £4,000 into a LISA each tax year (a period of 12 months running from April to April), and the government will top up everything you pay in by 25%.