Junior Individual Savings Account (Junior ISA) – from Family Investments, award-winning provider of children’s savings and investment products.
It’s never too early to think about investing in your child’s future. Opening a Junior ISA could help set them up for whatever they want to see, do and be in the future. It could go towards anything from a first car to university fees.
Surely the current economic climate can be no better advert for the benefits of saving for our children’s futures. The banks are the chosen scapegoats for the credit crunch and it’s true they should shoulder some of the blame but the truth is the general public, or at least most of us, are equally culpable. We wanted all sorts of things we really couldn’t afford – expensive houses, cars, holidays etc and the banks lent us the money to but them.
The Junior ISA (JISA) yearly limit is expected to be raised and confirmed to be £3,600 when it is planned to go live in November 2011. This is a 20% increase from the original £3,000 originally announced. We are also lead to believe that the limit for Child Trust Fund (CTF) will also be increased to £3,600.
The final rules are expected next week on Junior ISA investment limits per year. It is not expected that there will be a change to the eligibility criteria; starting a Junior ISA will only be available to those children who don’t have a CTF, ruling out children born between September 2002 and December 2010.