Child Trust Funds

Ash04

Hi, 
I have 3 children all with a child trust fund from the government.  I won't be putting money into these as I lose control over them once they turn 18.  The 1st one I did put money into at the beginning.  They have all gone down in value this year.  Just wondering if I should move them to a junior isa?  Is there any benefit if I'm not adding money to them?
Thanks in advance

xylophone

You could ask eg Coventry BS to arrange the transfer to their JISA - the money would earn a reasonable rate of interest.

https://www.coventrybuildingsociety.co.uk/consumer/product/savings/children/junior-cash-isa.html
i am assuming the youngest of the children is at least nine years old and so understands the concept of saving.

They might choose to contribute birthday/pocket money to their JISAs?

Reaper

Whether they are a CTF or a JISA makes no difference as they are just the container the money is in. The only advantage of a Junior ISA is there is more choice where to save/invest the money. So if you have somewhere in mind you want to invest and only a JISA covers it then that would be a reason to move it. If not then leave it where it is.

ElephantBoy57

Ash04 said:

Hi, 
They have all gone down in value this year.  Just wondering if I should move them to a junior isa?  Is there any benefit if I'm not adding money to them?

I would just leave them alone, if they have gone down, they may just come back up.

[Deleted User]

ElephantBoy57 said:

Ash04 said:

Hi, 
They have all gone down in value this year.  Just wondering if I should move them to a junior isa?  Is there any benefit if I'm not adding money to them?

I would just leave them alone, if they have gone down, they may just come back up.

From memory a lot of the default funds were FTSE100 trackers.