CTF with One family

KP4ME

Hi all
Wondered if anyone on this forum can advise if it is worth keeping a CTF or transferring to a Child / Junior ISA.  Much appreciated.

eskbanker

https://www.moneysavingexpert.com/savings/child-trust-fund-vouchers/ covers the question, but much will depend on when the money is likely to be needed, i.e. whether it should be invested or saved.

KP4ME

Money is ideally for long term savings.  It has been invested since 2009 in a One Family stocks n shares CTF total payments to date 12,452.39 and now worth 23,593.46

eskbanker

Given that the money is to be accessible to the child in no more than 5-6 years (i.e. it will be their decision about what to do with it from then), it would normally be prudent to consider dialling down the risk by shifting from stocks and shares towards cash, although there's no hard and fast rules as such.

In general, junior ISAs will offer better value, as a current rather than legacy product - I just had a quick look but couldn't even find a clear definition of what One Family's annual charges are, which is unlikely to be a positive sign!