Young UK adults are missing £3.1B in government bonus money by not using the Lifetime ISA, which gives 25% top-ups on savings.

Young Brits aged 18 to 28 are missing out on over £3.1 billion in government bonus money by not using the Lifetime ISA, which offers a 25% top-up on annual contributions up to £1,000. Despite saving an average of £2,059 yearly, only 35% have opened a LISA, leaving many without an estimated £512.77 in free funds annually. Nearly a third have never heard of the scheme, while 18% save for a home and 13% for retirement. Experts say starting early could yield up to £32,000 in bonuses by age 50.