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MSE News: Hope for child trust fund holders who want 'better' junior Isas
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Former_MSE_Helen
Posts: 2,382 Forumite
This is the discussion thread for the following MSE News Story:
"The Government will consider allowing child trust fund holders to convert their money into a junior Isa in future ..."
"The Government will consider allowing child trust fund holders to convert their money into a junior Isa in future ..."
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Comments
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I could not see a link to the e-petition in the article so here it is.
http://epetitions.direct.gov.uk/petitions/7468Excited for Florida - May 2012 :rotfl: :rotfl: :rotfl:0 -
We've just frozen our CTF as it made a loss in the last 12 months. I can quite easily find a vehicle that will make more money for my kids.......
At least if they enable us to merge these finds with JISAs then there's a chance this money could work better......Current Mortgage: £113,829
Standard MF Date: May 2030
MFW Target Date: Jun 2023
On Target to complete: Feb 20270 -
I think I'm signatory 1401. How many signatures do we need before Parliament is obliged to debate it? I'd really like to see Martin Lewis run with this ball...:money:0
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Some of the points raised in the article are simply not true. The campaign to allow Child Trust Funds to be transfered to Junior ISAs is being led by a group of stock brokers and investment managers who obviously have a vested interest. There is a much wider choice of Child Trust Funds available than Junior ISAs, which have been shunned by the major banks who do not have them available. The majority of Child Trust Funds are held in stakeholder accounts, guaranting a wide range of shares, low annual charges and low minimum top ups. You cannot have a stakeholder Junior ISA. I for one won't be signing the e-petion.0
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I have just recieved a statement for one of mine and it's made a loss. I am not surprised and have signed the petition. At the very least at least all of my children will have the same product. I'm surprised more people haven't signed it to be honest.LittleMissInDebt0
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Hi
I agree with last comment. My third child is not eligible for the Jisa and I would like them all to be on the same footing. His money is trapped in the CTF and as time goes on less and less products will be on offer and charges will increase. I would prefer all of my children to have cash Jisas (Halifax 6%) so that they are not exposed to the market until they are old enough to decide for themselves. We all know what the mess the market's got us into.
I would really like this campaign to take off to make it equal for all children.0 -
I'll sign it too !
I put £1,900 in a Barclays CTF 7 years ago and its currently worth £1,800 (£100 loss after 7 YEARS !!).
So much for encouraging parents to save for their childrens future
And to top it off I keep getting emails from them (usually around his birthday) to say what a fantastic way of saving money it would be if I topped his account up. NO THANKS !0 -
But you can move it to another CTF.I'll sign it too !
I put £1,900 in a Barclays CTF 7 years ago and its currently worth £1,800 (£100 loss after 7 YEARS !!).
So much for encouraging parents to save for their childrens future
And to top it off I keep getting emails from them (usually around his birthday) to say what a fantastic way of saving money it would be if I topped his account up. NO THANKS !
http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ChildBenefitandChildTrustFund/ChildTrustFund/WhentheChildTrustFundisupandrunning/DG_1936440 -
But you can move it to another CTF.
http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ChildBenefitandChildTrustFund/ChildTrustFund/WhentheChildTrustFundisupandrunning/DG_193644
I'm sure you have heard the saying 'Out of the frying pan, into the fire' ;-)0
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