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Junior Isa/CTFs
sophsamjam
Posts: 2 Newbie
I have 3 children, the latest born in December 2011.
The older 2 benefitted from the first child trust fund cheque of £250 which I invested in a stock based CTF with The Derbyshire. I put a monthly amount into their funds by DD.
The youngest has of course not benefitted from this but I understand the government have now set up Junior Isas. I am going to utilise this method for saving for my youngest without a doubt.
Having read an article in the press today however I understand that Junior Isas are going to far outperform CTFs. Is this true?
If so can I open Junior Isas for my older 2? I understand I can't transfer the money out of their existing CTFs and so would just have to leave that money there and just start afresh.
Also any recommendations for Junior Isas?
The older 2 benefitted from the first child trust fund cheque of £250 which I invested in a stock based CTF with The Derbyshire. I put a monthly amount into their funds by DD.
The youngest has of course not benefitted from this but I understand the government have now set up Junior Isas. I am going to utilise this method for saving for my youngest without a doubt.
Having read an article in the press today however I understand that Junior Isas are going to far outperform CTFs. Is this true?
If so can I open Junior Isas for my older 2? I understand I can't transfer the money out of their existing CTFs and so would just have to leave that money there and just start afresh.
Also any recommendations for Junior Isas?
0
Comments
-
sophsamjam wrote: »If so can I open Junior Isas for my older 2?
No. The rules state that you cannot have a JISA if you were eligible for CTF.0 -
https://www.hl.co.uk/free-guides/investing-for-children2
http://www.comparejuniorisa.com/compare
might be of assistance.0
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