Helping you guide them in making good choices with their Child Trust Fund savings.
76% of Child Trust Fund Planholders who spoke to their parents before making their decision, chose to continue investing towards their financial future.
Make sure yours and your child's details are up to date before they turn 18 for a smooth transition.
You'll need the Plan number (at the top of any letter we've sent you), your surname, your DOB, and your email address.
Make the most of their Child Trust Fund by making any final contributions before their 18th birthday.
Cancel any standing orders you have set up. We will no longer be able to accept contributions into their Child Trust Fund after they turn 18.
Start the conversation around how your child may want to continue saving for their future. Parents can continue to contribute if the child reinvests into an ISA with us.
Once your child turns 18, they will manage their Child Trust Fund and be the only one able to access and make changes to their Plan. This means we will no longer be able to discuss the Plan with you.
There’s no rush. Your child's savings will continue to work hard.
When you’re ready to start the conversation and discuss their financial future, here are some options to explore.
Stay invested with us - no action needed.
Your child can continue to build their savings for their future, and they can login anytime to check how they’re doing. But, remember that investing works best over time.
Your child might want to use their savings later for uni, a flat, or something meaningful.
If that’s the case, you can add money as and when you can to help boost their savings - new payments will need to be set up in their ISA with the 'Add money' button on their MyPlans account.
Your child doesn't need to go all in or all out.
Some choose to take a little now and invest the rest in an ISA for the future.
We understand sometimes your child might need the money urgently. But it's a good idea to leave a little investing for their future. Even a small bit saved now can make a big difference later.
Your child can empty their savings completely and no longer invest in their future. They will also lose out on their Foresters benefits.
Remember, your child doesn't have to decide now - we’re here if they want to talk.
As with all investing the value of the Plan can fall as well as rise, and your child may get back less than has been paid in.
Over 380,000 people trust us with their CTF savings - because keeping your savings invested can help turn your dreams into reality, like a first home or travelling the world.
Once your child turns 18 they will get access to a range of benefits - at no extra cost (they’re included in their Plan with us).
Investing their savings can help their money work hard for their future.
At Foresters, we have our own Financial Advisers to answer any questions. Whether you need help exploring savings options for your child once they turn 18, or want to discuss your own savings, our team can help you reach your financial goals.
Whatever your savings goals are, a Stocks and Shares ISA allows you to invest in your future up to £20,000, without having to pay tax on any growth. Contributions start from £20.
Save up to £4,000 each tax year towards your first home or later life with our Stocks and Shares Lifetime ISA. There is even a 25% Government bonus as an extra helping hand.**
Save our Stocks and Shares Shariah ISA up to £20,000 and invest in a fund that aligns with Islamic beliefs. With a Shariah adviser and board to approve investments.
Check out our Junior ISA for simple saving from as little as £10 a month, family and friends can contribute too.
With an ISA tax treatment depends on individual circumstances and may be subject to change. As with all stock market investments the value of your ISA can fall as well as rise.
**A Lifetime ISA must be held for at least 12 months before using it towards the purchase of a first home. By saving into a Lifetime ISA instead of a workplace pension, you could lose the benefit of employer contributions and the value could affect any entitlement to means tested benefits. If you make a withdrawal from the Lifetime ISA before age 60, other than to purchase your first home, you will pay a government penalty of 25% on the withdrawal amount, and you may get back less than you paid in.
No. The money in the Child Trust Fund is entitled to the Planholder (the child).
Only in certain circumstances is the Registered Contact able to access the money. For more information please read the FAQ 'My child is unable to manage their money, what should I do?'.
Yes, you can continue to add money to your child's savings. Once their ISA is open, they will see an 'Add money' button on their MyPlans home screen. Here they can set up a new contribution made by themselves or someone else.
If we are unable to verify the payer, we will also require personal identification, where the payer will need to provide a form of ID and documentation such as a utility bill as proof of address.
Once their ISA is set up, your child will be able to add a Lifetime ISA to their Plan. They will see this on their homepage or by the three dots on their ISA details on their homepage.
They can move money from their Stocks and Shares ISA and/or add new contributions.
To withdraw some or all of the money, your child will need to have a bank account in their name, as the money belongs to them and therefore cannot be paid into any other account.
We will do some checks to make sure that the bank account belongs to your child. If we are unable to verify your identity, we will require evidence of your bank statement within the last 12 months. Please note that although we accept electronic copies in image format, we cannot accept a screengrab – best way is to download this as a PDF. Our Customer Services team will then manually verify these documents.
There are several ways your child can obtain a bank statement:
When the bank account is verified the withdrawal will be processed. We aim to process withdrawals within 5 working days. It can then take 3-5 working days for the money to reach your child's account. If the payment is being made to an international bank account, once approved it can take 10-14 days to appear in the bank account.
These checks are put in place to ensure your child’s money is protected, so please bear with us whilst we process the request.
If your child chooses to make a full withdrawal, once the request has been received the Plan value will show as £0 on MyPlans whilst we process this request.
Yes, there is no need to worry, our CTFs and ISAs are protected by the Financial Services Compensation Scheme (FSCS) which means that in the unlikely event that we cannot meet our obligations you will be able to make a claim for the full value of the Plan from the FSCS.
If your child is unable to manage their own money, please contact our Customer Services Maturity team who will be able to advise you on the process and next steps, 0333 600 0333.
Alternatively, find out more about your options on the Government website here.
A Child Trust Fund is an asset and matures when the Planholder turns 18. Therefore, anyone wanting to access a matured CTF must have the proper legal authority.
If your child has the capacity to do so, a young adult can choose to make a lasting power of attorney (LPA) to give someone they trust the legal authority to access their Child Trust Fund.
If your child does not have the capacity to manage their Child Trust Fund, their family or carers will need to apply to the Court of Protection and the Court will decide which type of order is necessary and in the best interests of the account holder.
If you believe that your child will not have the capacity to manage their Child Trust Fund when they reach adulthood, in good time before they turn 18 you should put in an application for a court order. This means that when the young person turns 18, the order will be ready and you should be able to access the matured Child Trust Fund.
If you are trying to access a Child Trust Fund on behalf of a young person, it is likely you will not have to pay fees if you:
To note: If you are an appointee this does not allow you to access a CTF.
*About member Benefits
Description of member benefits that you may receive assumes you are a Foresters member. Members must be 18 years of age or older and must have an active Foresters Plan and maintain it in good standing. Foresters member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions and limitations and may be changed or cancelled without notice. Member benefits are not regulated by the Prudential Regulation Authority or the Financial Conduct Authority and may change in the future.
How to create your MyPlans account