The Junior ISA is a new tax-efficient savings account for adults to save up to £3,000 per year for children under 18. Money grows tax-free and can only be withdrawn by the child at age 18. Family Investments will offer Junior ISAs starting November 1st, 2011, building on their experience managing over 1.2 million Child Trust Fund accounts. Unlike Child Trust Funds, Junior ISAs do not provide government contributions.
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What is a Junior ISA?
1. Junior ISA’s June 2011 20655 001 06.2011 Information correct as at 01 June 2011
2. 2 What is a Junior ISA? The Junior ISA is a new tax efficient savings account designed for adults to save and invest on behalf of their children. Information correct as at 01 June 2011
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4. Money is locked away for the child who can withdraw the proceeds only when they reach the age of eighteen
5. The accounts are tax efficient like an adult ISAInformation correct as at 01 June 2011
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8. Will Family Investments be offering a Junior ISA?
9. Yes, as experts in children’s savings and with over 1.2 million Child Trust Fund accounts, we feel we are well placed to offer a Junior ISA. Our Junior ISA will be available from the launch date of 1st November 2011.Information correct as at 01 June 2011
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11. A tax year runs from 6th April to 5th April the following year.
12. Family and friends can also contribute to a child’s Junior ISA, as long as the total combined amount invested each year does not exceed £3,000. Information correct as at 01 June 2011
15. No, only the parent, or someone with parental responsibility, can take out a Junior ISA on behalf of an eligible child.Information correct as at 01 June 2011
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18. Our 1.2 million Child Trust Fund account holders will continue to receive the very best of service.Information correct as at 01 June 2011
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20. Winner of the Investment Life & Pensions Moneyfacts award for Best Child Trust Fund Provider 2010
21. As a mutual we’re owned by our customers, so our profits are reinvested for their benefit
22. 35 years experience of providing financial solutions for familiesInformation correct as at 01 June 2011
