Help re child trust fund
nicolag262
Posts: 2 Newbie
I contacted the children's mutual now foresters about my children's child trust fund accounts for the first time in about 7/8 years today.
Was surprised to discover there is £2295 in one and £1378 in another. I'm not currently paying anything into them but do want to start again and they are still in the stock type account.
So basically I have no idea what to do with them, should I move them into an ISA? Would probably be paying no more than £10/20 a month into them and my kids are 13 and 8 years old so have a few years left until they can cash them in.
Am delighted at the amount in them at the minute but am concerned that this is obviously subject to dropping in value and would love some advice on what best to do!
Thanks!
Was surprised to discover there is £2295 in one and £1378 in another. I'm not currently paying anything into them but do want to start again and they are still in the stock type account.
So basically I have no idea what to do with them, should I move them into an ISA? Would probably be paying no more than £10/20 a month into them and my kids are 13 and 8 years old so have a few years left until they can cash them in.
Am delighted at the amount in them at the minute but am concerned that this is obviously subject to dropping in value and would love some advice on what best to do!
Thanks!
0
Comments
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You can still contribute to the CTF.
http://www.foresters.com/en-gb/products/childrens-savings/child-trust-fund#gref
You could transfer into the Forester JISA - it accepts modest monthly contributions.
http://plan.foresters.co.uk/jisa/
You could transfer into a cash JISA.
Coventry BS is currently offering best rate for cash. A transfer in to the JISA is possible.
https://www.coventrybuildingsociety.co.uk/consumer/product/savings/children/junior-cash-isa.html
It is possible for a child to have both a cash JISA and a stocks and shares JISA provided that the annual contribution is not exceeded.0
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