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LISA into Pension

Answer
Username1£
Posted Thu, 02 May 2024 16:44:56 GMT by Username1£
At age 60 can I withdraw the value of my LISA and deposit it into a SIPP to gain tax relief at my marginal rate without triggering Oension recycling rules? I understand these would be triggered if I took a lump sum from another pension and put it into my SIPP. But the LISA is not a pension so I am unsure of this.
HMRC Admin 32 Response
Posted Fri, 10 May 2024 11:23:11 GMT by HMRC Admin 32 Response
Hi,

As you are 60, you can withdraw from your lifetime ISA. What you do with the savings, is up to you. As the lifetime ISA is not a pension, there would be no recycling, should you invest the savings in a SIPP.  
Guidance on lifetime ISAs, can be found at:

Lifetime ISA

Thank you.

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