MSE NEWS: Junior Isa limit to be £3,600



  • BargainMad_3
    BargainMad_3 Forumite Posts: 772 Forumite
    edited 28 July 2011 at 7:18PM
    So the Junior ISAs still have the same attribute as CTFs - money cannot be withdrawn until the 18th birthday and then it all goes to the 18 year old.

    But as CTFs were restricted to £1,200 a year (a third of the new Junior ISA) the potential fund is now quite massive for those investing the full amount for 18 years.

    Assuming 18 years of returns they could be looking at £100,000 quite easily, especially as the £3,600 limit will increase, even in bog standard cash Junior ISAs :eek:

    And yes the investment level in CTFs is being raised to £3,600 per year as well.

    And just to be sure, Junior Stocks and Shares ISAs will have charges applied (just like their CTF equivalents) is only the cash versions of each type that have no management fees.
  • gadgetmind
    gadgetmind Forumite Posts: 11,130
    Part of the Furniture 10,000 Posts Combo Breaker
    Sounds like more great news for the rich, who are pretty much the only people who will have £300/mth spare to squirrel away for their children.

    The £3600 is the upper limit. If you have less to save then save less!
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
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