Savings: Transfers from Child Trust Funds to Junior ISAs to be allowed…in two years

Pound LandscapeIt seems the Government has finally relented and will now allow transfers from Child Trust Funds to Junior ISAs. Over six million children have around £5 billion of savings in Child Trust Funds (CTFs), which were introduced by the second Labour government as a way of encouraging children and their parents to save. The coalition government replaced CTFs with Junior ISAs in 2011 although children with CTFs have so far not been able to transfer ...