Child Trust Fund for 12 year old

Chris_JY

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.

Robin9

Missed the boat -  scheme finished in 2011

You could go for a Junior ISA

What saving are you doing for your daughter ?

surreysaver

Child Trust Funds were superseded by Junior ISAs in 2011.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 ISA

Chris_JY

Robin9 said:

Missed the boat -  scheme finished in 2011

You could go for a Junior ISA

What saving are you doing for your daughter ?

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? 

Chris_JY

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Child Trust Funds were superseded by Junior ISAs in 2011.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 ISA

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!

xylophone

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/