The 'lifestyling' of stakeholder child trust funds (CTFs) by providers should begin when account holders reach age 15, two years later than currently, the government has proposed.
Retail savings and investment industry body TISA has endorsed the government's plans to allow holders of child trust funds (CTF) to transfer their funds to ISAs upon maturity, outside of the normal annual subscription limits.
The government will permit the transfer of cash saved in now-defunct child trust funds (CTFs) to junior ISAs.
The government will boost ISA, Junior ISA and Child Trust Fund (CTF) annual subscription limits in line with the consumer price index.
Sales of Junior ISAs (JISAs) soared in 2012-13, government figures show.
Plans to allow "zombie" child trust funds (CTFs) to be switched to Junior ISAs could see savers £7,500 better off.
The Government will consult on options for transferring savings held in child trust funds (CTFs) into Junior ISAs.
Junior ISA provider The Children's ISA has launched a ‘University ISA' targeting parents concerned about university fees.