Money Box
Summary
The UK Parliament is asked to help young adults with learning disabilities access money in their Child Trust Funds because current legal costs are too high. New data shows many newly hired workers are choosing not to join workplace pensions, and delays continue in pension services for civil servants. Changes are also proposed to replace the Lifetime ISA with a new savings product just for first-time homebuyers.Key Facts
- Child Trust Funds were started over 15 years ago with government and family contributions.
- Young adults with learning disabilities face high legal costs to access their Child Trust Funds money.
- In one year, 500,000 people opted out of workplace pension enrollment before their contributions began.
- Automatic pension enrollment happens when people start new jobs but some say no to joining.
- Capita is behind schedule in fixing long pension service delays for civil servants.
- Plans are being made to replace the Lifetime ISA with a new savings product aimed at first-time homebuyers.
- The news comes from a Radio 4 Money Box episode aired on 4th July 2026.
- The program reports on financial issues affecting young adults, pension savers, and homebuyers.
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