MONEY
CHILD’S PLAY
Many parents are bamboozled by the alphabet soup of acronyms that stand for savings
products for children, but clarity is only one simple form away
T
here were cheers from
parents last year when it was
announced that from April
2015 they could transfer their
Child Trust Fund into a Junior ISA
(JISA). While on the face of it Child
Trust Funds appeared to offer the
Holy Grail of free money, the small
number of providers offering these
products meant that competition
was low, resulting in low interest
rates and higher charges.
While JISAs don’t offer the
initial sweetener on behalf of the
government, their wide availability
means you can manage your child’s
money while logged into your own
share dealing account.
Transferring your money from
a Child Trust F չ