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Child Trust Fund for 12 year old
Chris_JY
Posts: 12 Forumite
Hello. Our son who is 17 was given a Government trust fund payment that our daughter, who is 12, doesn't have. Would it be worth us opening a trust fund for her now, or have we "missed the boat", please? Our son's is with Columbia Threadneedle (previously F&C then BMO). Thank you.
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Comments
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Missed the boat - scheme finished in 2011
You could go for a Junior ISA
What saving are you doing for your daughter ?Never pay on an estimated bill. Always read and understand your bill0 -
Child Trust Funds were superseded by Junior ISAs in 2011. I'm not sure what happens to a CTF when it matures - I converted my child's CTF to a jISA, which matures into a normal ISAI consider myself to be a male feminist. Is that allowed?0
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Thank you. She has a Smart Junior ISA with Nationwide, which is currently paying 3.55%. I just wondered if it would be worth converting it into a Child Trust Fund, but it appears that's not an option. It appears that we can move it into another Junior ISA though if we find one with better rates, is that correct please?Robin9 said:Missed the boat - scheme finished in 2011
You could go for a Junior ISA
What saving are you doing for your daughter ?0 -
Thank you. As it's not long before our son's CTF is due to mature (in 4 months time), are we best to leave it where it is, or convert it to be a junior ISA, do you happen to know, please? Thank you!surreysaver said:Child Trust Funds were superseded by Junior ISAs in 2011. I'm not sure what happens to a CTF when it matures - I converted my child's CTF to a jISA, which matures into a normal ISA0 -
Coventry BS accepts transfer in of JISA and offers a higher rate than Nationwide.
https://www.coventrybuildingsociety.co.uk/member/product/savings/children/junior-cash-isa-2.html
https://www.columbiathreadneedle.com/ctf/maturity-options/
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