confused about child trust funds

emma.cook3

My twins have a CTF (stakeholder) which is now worth £340. They lost about £20 last year and the charge is 0.7%. I have read the guides but am still unsure if they are worth keeping or if I should swap them to an junior ISA. I also dont know how to swap or if I will be charged to do so. any advice or opinion welcome.

xylophone

You can transfer to Junior ISA if you wish.

Received wisdom is that the younger the child, the more likely that shares are a better option than cash.

However, if you feel uncomfortable with shares, then you can transfer to cash.

Or with the JISA you can have both cash and shares.

https://www.gov.uk/junior-individual-savings-accounts/overview

http://www.moneysupermarket.com/c/news/how-to-transfer-a-ctf-to-a-jisa/0085961/

http://www.moneysavingexpert.com/savings/junior-isa

emma.cook3

I am ok with shares but it doesn't seem to be making a great deal of money. Although I suppose it's made £90 in the last 8 years so maybe that's ok

Reaper

emma.cook3 wrote: »

I suppose it's made £90 in the last 8 years so maybe that's ok

It's not great for a shares CTF. Are you sure that's the only charge? F&C for example introduced an annual £30 charge which rapidly kills off small CTFs such as yours.

jonnyb

I think the OP said she has a stakeholder CTF. The £25 fee does not apply to that.