You can save up to £4,000 in the 2022/23 tax year.
Save money into a LISA and the government will give you a 25% bonus on the money you put in - that's a bonus of up to £1,000 a year! You need to have saved into your LISA for at least 12 months before using the money to buy your first home.
A bonus of up to £1,000 a year! But it doesn't stop there. Once you've bought your first home you can continue to save into the Lifetime ISA for retirement, and still receive the 25% government bonus up to age 50.
You can withdraw your money without charge if you’re using it to buy your first home for £450,000 or less, and you’ve had the account for at least 12 months. If you’re saving for retirement you can take out your money once you’ve reached the age of 60. If you withdraw your money for any other reason or before you hit 60, the government will apply a withdrawal fee of 25% - but only on the amount withdrawn. The government has temporarily reduced the penalty to 20% for any funds withdrawn between 6th March 2020 and 5th April 2021.
Although we aim to make everything about saving and investing easy, there might be times when you need a bit more information or have a question about your account. Whatever you need, we’re here to support you.
Frequently asked questions
If you’ve got a general question, you might be able to find it easier and quicker by having a look at our frequently asked questions. We are constantly adding to this resource so it’s a great place to start.
In App
If you’ve downloaded our app, you can easily access our frequently asked questions or get hold of the team by sending an in-app message with or without attachments.
If you prefer, you can email us at help@cushon.co.uk. and one of the team will get back to you.
Telephone
If you prefer to speak to someone no problem, give us a call on 020 3926 0333 and one of the team will be ready to help you. Our operating hours are 9am to 5pm.
Cushon Group Limited is registered in England and Wales with company number 10967805. Registered office: Stephenson House, 2 Cherry Orchard Road, Croydon, England, CR0 6BA. Cushon Money Limited is authorised and regulated by the Financial Conduct Authority with FRN 929465 and is registered in England and Wales with company number 11112120. Cushon Master Trust is regulated by The Pensions Regulator with PSR number 12008536. Cushon Group Limited is the sponsoring company of Cushon Master Trust and is registered in England and Wales with company number 10967805. We provide high quality impartial information but not advice, so it is important that you understand the risks of investing. The value of investments can go down as well as up which means you may get back less than you put in.