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You can find the current article at its original source at http://www.guardian.co.uk/money/2013/mar/20/child-trust-fund-junior-isas
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| Child trust fund savers may soon be able to shift money into junior Isas | Child trust fund savers may soon be able to shift money into junior Isas |
| (8 days later) | |
| Parents with savings for their children locked into poor-paying child trust funds (CTFs) could soon have a more attractive option to consider. They may be able to move the cash to a better-paying junior Isa after the government confirmed it would launch a consultation on transferring savings between the accounts. | Parents with savings for their children locked into poor-paying child trust funds (CTFs) could soon have a more attractive option to consider. They may be able to move the cash to a better-paying junior Isa after the government confirmed it would launch a consultation on transferring savings between the accounts. |
| CTFs were a Labour initiative available to children born between 1 September 2002 and 2 January 2011, with the government initially providing a starting voucher of £250. That was reduced to £50 as the accounts were phased out for new savers, before being replaced with junior Isas. | CTFs were a Labour initiative available to children born between 1 September 2002 and 2 January 2011, with the government initially providing a starting voucher of £250. That was reduced to £50 as the accounts were phased out for new savers, before being replaced with junior Isas. |
| Since then parents who had opened a CTF - and there are an estimated 6m CTFs in operation each holding an average of £750 - have been unable to start a junior Isa for the same child, or to move the money into one, meaning many are now stuck in accounts that providers have superseded with junior Isas, which typically pay a higher rate of interest than their predecessors. | Since then parents who had opened a CTF - and there are an estimated 6m CTFs in operation each holding an average of £750 - have been unable to start a junior Isa for the same child, or to move the money into one, meaning many are now stuck in accounts that providers have superseded with junior Isas, which typically pay a higher rate of interest than their predecessors. |
| Top savings accounts | |
| Coventry BS | |
| GE Capital Direct | |
| Skipton BS | |
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