Child Trust Fund: transferring savings to a Junior ISA
This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government
This consultation has concluded
Download the full outcome
Detail of outcome
The Treasury received 761 responses from a range of stakeholders. A list of organisations that responded can be found at Annex A. This response document summarises and addresses the main views and concerns voiced by respondents.
In response to this consultation, the government will be taking legislative powers to enable the voluntary transfer of savings from a Child Trust Fund (CTF) to a Junior ISA. It will also be taking powers that will allow further intervention in the CTF market in case this is required at a later date.
We are very grateful to those who took the time to respond to this consultation.
This consultation ran from
Seeking views on whether the transfer of savings from a Child Trust Fund to a Junior ISA should be allowed and how such transfers might take place.
At Budget 2013 the Chancellor announced that the government would consult on allowing the transfer of savings from a Child Trust Fund (CTF) account into a Junior ISA.
We would like to gather views on whether transfers should be allowed and on our proposed approach for allowing them. Once the consultation closes on 6 August 2013, we will consider all responses and publish a ‘summary of responses’ document. This will set out how the government intends to proceed, as well as the proposed next steps.
We would particularly be interested to hear from:
- representative groups for children or savers
- CTF holders, their parents or guardians and registered contacts for accounts
- CTF and Junior ISA providers
- financial advisors