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children's savings

(5 Posts)
Needtoprotect16 Wed 13-Jan-16 11:52:21

Dd2 has a child's trust fund a/c.

Can anyone help me with these questions please?

1. It says it's a Stakeholder one. Can I open up for her a cash ISA?

2. I read recently about a stock market crash about to happen. Would it be worth me transferring the existing money in the stakeholder CTF to a cash ISA to better protect it?

Thanks in advance

specialsubject Wed 13-Jan-16 12:35:35

to point 2 - no. Stock market goes up and down and NO-ONE, repeat NO-ONE can predict it.

cash ISA rates are below inflation. Put the money in an S and S ISA and forget about it for years.

Needtoprotect16 Thu 14-Jan-16 08:39:40


Would putting it into a S and S ISA be preferable to a Child Trust Fund. Sorry, am very clueless about all this

throckenholt Thu 14-Jan-16 11:01:08

Until recently you couldn't convert a CTF to a junior ISA. Now you can (if you want to) - but you can't have both - you have to convert the existing CTF to an ISA, or keep a CTF. (just the first one I found on google)

Whether you do or not depends on how much is in it, and how much interest it is earning.

Nationwide CTF cash (not sure how that corresponds to stakeholder) have reasonable rates at present if that is of any use.

Needtoprotect16 Fri 15-Jan-16 06:52:26

Thanks Throcken. There's not much at all in the CTF - might move it. I am tempted to leave it in S&S but don't like the idea of losing what little there is in it

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