Child Trust Fund vs Junior ISA: what is the difference?Child Trust Funds (CTFs) were government savings accounts for children born between 1 September 2002 and 2 January 2011. They are no longer open to new applicants. Junior ISAs (JISAs) replaced CTFs in November 2011 and remain open today. Children with a CTF cannot also open a Junior ISA — but they can transfer their CTF to a Junior ISA. CTFs are closed to new applicants. Children born before January 2011 who have a CTF can transfer it to a Junior ISA — often with better rates and more provider choice. Child Trust Fund vs Junior ISA: key comparison
Should you transfer a CTF to a Junior ISA?In most cases yes — Junior ISAs typically offer better interest rates (for cash) and lower platform fees (for stocks and shares) than CTF providers. The transfer is free and does not affect the annual contribution limit.
How to transfer a Child Trust Fund to a Junior ISA
What if you cannot find your CTF?HMRC has a Child Trust Fund lookup tool at gov.uk/child-trust-funds. Enter the child National Insurance number (available from age 16) or ask HMRC directly. Millions of CTF accounts are unclaimed — it is worth tracking down even a small pot. Verdict Transfer to a Junior ISA for better rates and lower fees If your child has a CTF, transferring to a Junior ISA is almost always the right move — better rates, lower costs, and more flexibility. The transfer is free and straightforward. Start with the HMRC CTF lookup if you have lost track of the account. Frequently asked questionsCan a child have both a Child Trust Fund and a Junior ISA? No. A child cannot hold both simultaneously. They can transfer their CTF to a Junior ISA, after which the CTF is closed. What age can a child access their CTF or Junior ISA? Both a CTF and a Junior ISA are accessible from age 18. The child cannot access the funds before this — neither parents nor the child can withdraw early. Can grandparents contribute to a Child Trust Fund or Junior ISA? Yes. Anyone can contribute to a CTF or JISA — parents, grandparents, other family, or friends. Only the annual limit (£9,000) applies in total across all contributors. Do Child Trust Funds still earn interest? Yes. CTFs that have not been transferred continue to grow with interest or investment returns depending on the account type. However, rates are often lower than the best Junior ISA equivalents available today. |
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