What are lifetime ISAs?
Lifetime ISAs are Individual Savings Accounts that help people either buy their first home or save for retirement. The government tops up lifetime ISAs by 25%, so every time you pay in, the government does too. For example, if you pay in £100, it will give you an extra £25 on top.
You can invest up to £4,000 in your lifetime ISA each tax year, so there's £1,000 of government bonus available each year.
As with all ISAs, lifetime ISAs are tax-exempt. This means that no matter how much your investments grow by, you won't pay any tax on the money you withdraw.
You can open a OneFamily Lifetime ISA with a minimum £25 a month direct debit or a lump sum of at least £250. We charge an Annual Management Charge of 1.1% of the account value. Our Lifetime ISA invests in stocks and shares, therefore it has good potential to grow over the long-term but the value can go down as well as up.
What are the lifetime ISA rules?
There are a few rules to be aware of:
Things to be aware of
The money you put in our Lifetime ISA is invested in stocks and shares. This means there's good potential for it to grow over the long-term, but there is a risk that the value could go down.
The alternative is a cash lifetime ISA which earns interest like a current account does.
There is also a penalty charge for taking your money out within 12 months or not using it for your first home or for retirement. This is known as the government withdrawal charge, see below for details.
See what your lifetime ISA could be worth
Choose how much you want to pay into your lifetime ISA and see how much your money could grow
This projection shows how your lifetime ISA could grow with low, medium and high performance. Remember, projections are not a guarantee of future performance and you could get back less than you pay in.
Please note: No more than £4,000 may be invested into a Lifetime ISA within a single tax year. This includes your initial investment and your monthly direct debit payments.
What is the lifetime ISA government withdrawal charge?
The government will charge you 25% of everything you withdraw if you:
This means you'll be charged 25% of the money you saved yourself plus the money the government put in. For example, if you put in £1,000 then the government will have added £250. If you withdraw the lot, your penalty would be 25% of £1,250, which is £312.50, leaving you with just £937.50.
Therefore, if you’re not intending to buy your first home with the money or keep it in the account until you turn 60, you might best opening an ISA instead.
What are climate-friendly funds?
If you choose to invest in our Global Equity Fund, up to 100% of your money will be invested in climate-friendly options. With our Global Mixed Fund, up to 35% is used to buy shares in climate-friendly options, while the rest is invested in lower-risk, fixed-interest assets.
When investing your money in climate-friendly options, our fund managers use a clever scoring system to rank companies by climate-friendly criteria.
More money is invested in companies that have:
A higher revenue percentage from “green” business activities, such as renewable energy production.
Smaller amounts of fossil fuel reserves and less reliance on using fossil fuels to produce revenue.
A clear strategy and action plan to reduce greenhouse gas emissions.
A lower proportion of income from non-climate friendly activities such as drilling and mining.
Lower carbon emissions, including within their supply chain.
We also exclude the companies that score the lowest within each industry – meaning we don’t invest in them at all. Companies that are involved in things like building controversial weapons are also taken off the list.
This results in a portfolio of companies working towards causing less environmental damage compared to the companies non-climate-friendly funds are likely to invest in.
Why invest in a OneFamily Lifetime ISA?
There are a few things that really set us apart from other lifetime ISA providers. Here's just some of the reasons to choose OneFamily.
How to open a lifetime ISA with us
Choose which of our two funds you'd like to invest your money in. Once your Lifetime ISA is open, you can switch between funds at any time, free of charge.
Global Equity
Invest into global companies who focus on operating in a more sustainable way
Invest for your future in a way that's aligned with your values. Global Equity invests your money into companies who are actively working towards a more sustainable business model and reducing their carbon footprint. Find out more about our climate investments
- Avg. yearly
growth* - Fund
size - Global
investments
Risk rating
Lower HigherFund performance:
*Performance includes all charges payable. Please remember that past performance should not be seen as an indication of future performance.
You can find out more about Global Equity in our Key Information Document and Fund Factsheet
Global Mixed
A balanced mix of climate-friendly options and fixed interest investments to reduce risk
Invests up to 35% of your money into climate-friendly shares and at least 65% into fixed interest assets and bonds to help reduce risk. Choose this fund if you want to lower your risk of losing money while still investing in some climate-friendly options. Find out more about our climate investments
- Avg. yearly
growth* - Fund
size - Global
investments
Risk rating
Lower HigherFund performance:
*Performance includes all charges payable. Please remember that past performance should not be seen as an indication of future performance.
You can find out more about Global Mixed in our Key Information Document and Fund Factsheet
Got a question about our Lifetime ISA? Try our FAQs.
Start saving - open or transfer to a Lifetime ISA online today
If you want to open a OneFamily Lifetime ISA by phone, call 0800 028 1112*
Got a OneFamily Child Trust Fund? Log into your account

Find out more about lifetime ISAs
Get all the information you need to feel fully informed when investing in your future.
Transfer to our Lifetime ISA
You can transfer an ISA or Child Trust Fund held with another provider to our Lifetime ISA.
Lifetime ISA FAQs
Got a question about Lifetime ISAs? Browse our frequently asked questions to get the answers you need.
Help to Buy ISA vs Lifetime ISA
If you already have a Help to Buy ISA, find out if transferring to a lifetime ISA might be the right option for you.
Are there any Lifetime ISA charges?
There are always some underlying charges when investing in stocks and shares. Learn about our fees.