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Junior Isa

(7 Posts)
Eggsbutnobacon Wed 16-Mar-16 23:25:48

I have had a sibling group since 2010 and am trying to establish how I go about getting the £200 funding put into a junior isa for them which I believe looked after children are entitled to. I know they do not have a child trust fund.
Can any kind person point me in the right direction? I have only had vague non-commital answers from their sw.

Cassimin Thu 17-Mar-16 10:40:34

I went to open an isa for my little one. As they were born when the government opened savings accounts for them I was told they weren't able to have an isa as well.
I would need to get the savings details from mum.
I decided to just open a savings account with halifax.

3PurpleCrocs Thu 17-Mar-16 12:22:20

The £200 Junior ISAs for looked after children were due to be "reviewed" in Sept 2015. I can't find any information on the current position which leads me to believe they were scrapped...

I'm just off to investigate further as my LO is (was) entitled to one also!

Ballnumnums Thu 17-Mar-16 14:31:36

I think that the Junior ISA and the £200 the government was to start it off with was specifically for looked after children and was the responsibility of the LA's to open for them and apply for the £200. I think that this came out of the Edward Timpson review in 2011/2012. There may be something for non-LAC but I don't know about that. Not sure if it is still going as I am no longer in that field.

I think that SW's were supposed to let the fc's know the bank account details so they could pay monies in for savings for the child when they were 18yrs old. Any one who wanted to pay in for the child was allowed to as the bank/savings account details were available for all to do so.

The idea was for the fc to have savings when they left care.

princesspeppa Thu 17-Mar-16 20:36:53

My LA opens Junior Individual Savings Accounts with The Share Foundation. I had to make enquiries direct to find out if my FC had an account opened, and they confirmed it had been done in 2013. Cant remember if it was £200 or £250. The foster carer can also put extra money into the account, which the child can access when they reach 18. Worth a try... www.sharefound.org

Eggsbutnobacon Thu 17-Mar-16 21:14:33

Thanks all especially peppa. Have emailed the share foundation.

princesspeppa Mon 18-Apr-16 19:54:20

I couldn't get a straight answer from my LA or SW when I enquired, so I went direct to The Share Foundation (I had read about it in a Fostering magazine), who pointed me in the right direction, and it was eventually confirmed that the LA had automatically opened a Junior ISA for my FC in 2013. It was for £200.

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