PS17/4: Handbook changes to reflect the introduction of the Lifetime ISA

In this Policy Statement, we summarise the feedback received from our consultation on introducing the Lifetime Individual Savings Account (LISA) and publish the resulting rules and guidance.

Show PS17/4 (PDF)

The introduction of the LISA was announced in the March 2016 budget. It is intended to help adults under the age of 40 to save or invest flexibly, in order to provide a deposit for a first home, and/or to save for retirement. We consulted on the changes required to our Handbook rules in order to introduce the LISA in CP16/32.

This Policy Statement summarises the feedback we received and sets out our response to these submissions. We also publish the resulting rules and guidance that will shortly come into force.

Who this applies to

This Policy Statement will primarily be of interest to those firms that currently provide ISAs and those planning to offer the LISA. It may also be of interest to:

  • consumers and consumer organisations
  • financial advisers
  • trade bodies that represent stakeholders in this market
  • compliance consultants and other firms that assist stakeholders

Next steps

The rules set out in Appendix 1 will come into force from 6 April 2017 and firms will need to comply with them from that date.