Lifetime ISA Top Ups

Boost your savings with a
25% government bonus

Saving for your first home or for your retirement? Then don’t forget to top up your Lifetime ISA (also known as a LISA). It’s a little different to other ISAs because the government gives you a very healthy 25% monthly bonus on whatever you’ve saved. The question is, why wouldn’t you make the most of your £4,000 yearly allowance!

Why top up your Lifetime ISA?

Lifetime ISA bonus

Your Lifetime ISA will receive a 25% government bonus, up to £1,000 each tax year.

Lifetime ISA Allowance

You can save up to £4,000 each tax year until your 50th birthday. Save regularly from £50 per month or invest a lump sum of at least £500. Top ups of £250 or more can be made thereafter.

Investment Fund

Your money is invested in a fund which gives you access to investment types you cannot get directly.

Your membership benefits

When you have a Lifetime ISA with Foresters Friendly Society, you also gain access to Foresters Extras – membership benefits. These benefits include discretionary grants to help towards the cost of higher education, healthcare and lots more.

What do our members say?

“We took out a Lifetime ISA to help boost our retirement funds. It appealed to us as we feel the state pension and workplace pensions may not be sufficient on their own. We didn’t want to miss out on the additional money from the government with the plan’s 25% bonus!

As editor of the Foresters member magazine, and with Rosemary running our local Foresters branch, it’s been great to get involved with the member events that take place too.”

Rory and Rosemary, Surrey


Ready to make the most of your Lifetime ISA allowance? Top up today!

Added value for you – Foresters Extras

Holding a Lifetime ISA means that you are a part of the Foresters Friendly family and can enjoy some wonderful, unique benefits including discretionary grants to help you cover the cost of things like higher education, dental and optical costs.

Find out more

Frequently Asked Questions

Can I still open a Foresters Friendly Society Lifetime ISA

Lifetime ISA’s are no longer available to open with Foresters. But on the plus side, we do offer other saving plans which can be used to save for your future. Find out more about our Tax Exempt Savings Plan and our Saving and Investment Plan.

Can I transfer an existing Lifetime ISA to Foresters Friendly Society

We no longer accept transfers of Lifetime ISA’s.

How does a Lifetime ISA work?

A Lifetime ISA is a savings account designed to help you to achieve your future plans, tax free. Whether that’s purchasing your first home with a value of less than £450,000. Or providing a cushion for your retirement.

You can pay in up to £4,000 each tax year into a Cash LISA, or a Stocks & Shares LISA like the one offered by us (or split the allowance between both), and the government will add a 25% bonus on the money paid into the LISA by you each month. A very welcome bonus!

We aim to add an annual bonus each year too, plus a possible final bonus when you withdraw your money. The addition of Foresters bonuses is not guaranteed.

You can open a LISA if you’re aged 18 to 39 and a UK resident for tax purposes. Tax rules may change and depend on individual circumstances.

How long can you pay into a Lifetime ISA?

Once you’ve opened your LISA, you can pay into the plan until you turn 50 – with government bonuses being added. From age 50, no further contributions can be made. So, if you were to open your account at the age of 18, you’d be able to pay into it for a maximum of 32 years.

Because the Lifetime ISA is designed to be held for a number of years, the rules and regulations covering their operation and tax status may change in the future. You won’t pay tax on your investment, but it’s worth remembering that tax is automatically deducted from share dividends and that tax cannot be reclaimed. These tax rules also depend on your individual circumstances.


How much can you put in a Lifetime ISA with Foresters?

You can choose to contribute regular amounts from £50 per month by Direct Debit, or invest a lump sum of at least £500. You are then able to invest lump sums of a minimum of £250 as top ups. Or if you prefer, you can use a combination of both, as long as your total contribution is not more than £4,000 per tax year. As LISAs are designed to be held for a number of years, the limit on annual contributions may change in the future.

Even your parents or grandparents can help

We know how hard it can be to save for big things like a first home or retirement, so if your parents or grandparents want to help you, this will enable you to reach your savings goal quicker. While they are not allowed to invest directly, they can pass the money to you to put into your LISA.

How does the process of paying towards a first home work?

When you’re buying your first home, we don’t pass the proceeds on to you. Instead, they go directly to the solicitor or licensed conveyancer who is acting on your behalf. If, for some reason, the purchase of the property doesn’t complete, the solicitor will return the money to us. We’ll then reinvest it back in to your plan at no loss to yourself.

Where is the money invested?

The money you pay into your Stocks & Shares LISA, together with the government bonus, is invested in our With Profits Order Insurance Fund, which aims to provide growth over the medium to long term. Annual bonuses and a possible final bonus may be added to your LISA by Foresters. The value of these bonuses depends on how much profit our fund makes and this cannot be predicted.

We have declared the following annual bonus rates for our Lifetime ISA, which are paid in addition to your 25% government bonus:

Year Annual Bonus Rate
2022 1.25%
2021 1.25%
2020 1.25%
2019 1.75%
2018 1.75%

The annual bonus is applied to the amount invested (minus any withdrawals you may have made to your Lifetime ISA) plus any previous bonuses that have been added.

The addition of any bonus is not guaranteed and you may not get back the full amount originally invested, dependent on the investment conditions at withdrawal. Inflation will affect what you can buy when you cash-in your LISA.

To find out more about the addition of bonuses and how we manage our fund please read our Principles and Practices of Financial Management (PPFM).

We may vary the design of a product to best meet the needs of our policyholders which may affect the timing and size of future bonuses. Therefore the above table is provided for information purposes only and should not be considered an indication of likely future performance.

When is the Lifetime ISA bonus paid?

The 25% government bonus your Lifetime ISA receives is based on the contributions that you make in any one tax year and is paid on a monthly basis. So, if you pay in £200 a month, your plan will receive a government bonus of £50 that month too. We will liaise with the HMRC to ensure that your Lifetime ISA receives the government bonus – you don’t need to do a thing.

Are there any charges for the Lifetime ISA?

There’s an annual management charge of 2% of the value of your Foresters Lifetime ISA, which will be taken into account when calculating policy bonuses. This may change but we promise it will never exceed 3% of the value of your Stocks & Shares LISA in any one year. These charges cover our costs for managing the LISA for you. For more information about charges, please see the Lifetime ISA (LISA) Key Information Document and Important Information.

What happens if I want to cash-in my LISA and it’s not to buy a home or for retirement?

The LISA is designed for people saving for their first home or later life and retirement from age 60. So you should only plan to use the funds for those purposes. You are still able to cash it in for other reasons, but in most cases this would incur a 25% government charge, applied to the whole amount of your withdrawal.

This charge returns the government bonus to them, including the growth or other bonuses received on that money. If you do wish to make withdrawals, then it’s important to read the Lifetime ISA Important Information for further details.


Ways to top up your Lifetime ISA



Set up a regular monthly direct debit, or make a one-off, secure payment from your debit card. Top up online now.


By phone

Call us on 0800 988 2418 and we can set up a regular monthly direct debit, or take a one-off payment from your debit card over the phone.



We’re here if you need help or have any questions

If you’re a little stuck and need help, please get in touch. Our UK based team can help to make things as smooth and easy as possible (lines are open Monday to Friday 9 am to 5 pm).

Call free on 0800 988 2418