Petition · past parliament · HM Treasury
Allow pentalty-free withdrawals from Lifetime ISAs during the coronavirus.
Closed
40 signatures
What the petition asks
Many people have savings locked away in a Lifetime ISA saving for their first homes and retirement. However, currently there is a 25% penalty for any withdrawals other than for those purposes. Freezing this penalty would help people to withdraw money to deal with the consequences of the Coronavirus
The government is making lots of changes to help with the virus, but this would be a relatively easy move to help people. People shouldn't be penalised for withdrawing funds due to an unprecedented emergency.
Timeline
| 7 Apr 2020 | Petition opened for signatures |
| 7 Oct 2020 | Closed to new signatures |
Key facts
Signatures
40
Status
Closed
Department
HM Treasury
Opened
7 Apr 2020
Closed
7 Oct 2020
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Source: the official petition page. Last checked 15 Jul 2026.