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  • FIRST POST
    • mrochester
    • By mrochester 15th Mar 17, 7:24 PM
    • 1,146Posts
    • 211Thanks
    mrochester
    Lifetime ISA - can I withdraw at any point after 60?
    • #1
    • 15th Mar 17, 7:24 PM
    Lifetime ISA - can I withdraw at any point after 60? 15th Mar 17 at 7:24 PM
    Hi all

    Does anyone know if the lifetime ISA money can be withdrawn at any point after I have turned 60 or will I have to take it when I turn 60, so for instance, if I want to wait until I am 65 before withdrawing, can I do this?

    Best wishes.

    M
Page 1
    • bowlhead99
    • By bowlhead99 15th Mar 17, 7:35 PM
    • 6,408 Posts
    • 11,343 Thanks
    bowlhead99
    • #2
    • 15th Mar 17, 7:35 PM
    • #2
    • 15th Mar 17, 7:35 PM
    The criteria is you have to be at least 60. You don't have to be exactly 60. If you want to keep the money protected from tax longer, feel free to wait until you're 65 or 70 or whatever.
    • Westie983
    • By Westie983 15th Mar 17, 8:31 PM
    • 3,666 Posts
    • 13,657 Thanks
    Westie983
    • #3
    • 15th Mar 17, 8:31 PM
    • #3
    • 15th Mar 17, 8:31 PM
    Interested to see if this will ever launch, as not many if any high street banks are offering this product...

    Westie983
    Save 12k in 2017 #16 Total £12080/£12000 100.66%
    Sealed Pot Challenge ~ 10 #97 Total (£252) +£158/£500 = 82.00% ( x 10)
    Xmas 2017 £1 a Day #6 Total £202/£365 = 55.34%
    Virtual Sealed Pot #1 Total £900/£1000 = 90.00%
    £2 Savers Club 2017 #3 Total (£1450)+£50/£2000 = 75.00%
    Total £15092.00/£15865 = 85.12%


    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
    • Flobberchops
    • By Flobberchops 15th Mar 17, 8:51 PM
    • 506 Posts
    • 350 Thanks
    Flobberchops
    • #4
    • 15th Mar 17, 8:51 PM
    • #4
    • 15th Mar 17, 8:51 PM
    Likewise Westie. There seems to be a wall of silence surrounding this "imminently released" product.
    • bowlhead99
    • By bowlhead99 15th Mar 17, 10:05 PM
    • 6,408 Posts
    • 11,343 Thanks
    bowlhead99
    • #5
    • 15th Mar 17, 10:05 PM
    • #5
    • 15th Mar 17, 10:05 PM
    When the final rules are published and implemented in law to allow the product to be finalised, legally marketed and accounts opened, probably there will be a longer list of offers than you are hearing about today.

    If like OP you are considering investing and keeping it there until 60, you probably wouldn't be using a high street bank anyway, you'd use an investment firm ; a number of whom have said they will launch products once they are allowed to.
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