What are my options at age 18?
Continue to save in an ISA
Take the money
Save some, take some
You have the option to continue to save by reinvesting your Child Trust Fund into an ISA, where you will have the flexibility of making contributions, withdrawals and have the option to add a Lifetime ISA, take the money or do a bit of both.
If you do not need to make your decision straight away, your savings will continue to invest in the same fund as before, however payments cannot be made into the Plan.
It’s easy to make your choice
Manage your savings online with MyPlans
✔ See how much is in your CTF ✔ Make your choice from 18 ✔ Update personal details ✔ View fund performance
You will need:
- Your National Insurance number or Plan number
- Your email address
- A bank account in your name
You can find the Plan number on letters we have sent you, or by calling Customer Services. A bank account is only needed when withdrawing or adding money.
Your choices explained
Continue to save in an ISA
How to continue saving in an ISA with MyPlans
Once you have activated your MyPlans account and turned 18, you are ready to make your choice.
- Login to your MyPlans account and click on the ‘Next Steps’ button.
- You will then get to choose whether you would like to reinvest into an ISA (and continue to save) and/or how much you would like to withdraw. Remember you can do a bit of both, but if you do not want to withdraw leave the amount as £0.00 in the 'withdraw' box. You will choose between a Stakeholder ISA or a Shariah ISA. You need to read important information provided during the application to make your choice.
- We then just need you to check your details, and update any we have missing.
- If you would like to add any more money you will then get the chance to add your bank details and how much you would like to save.
- Finally, all you need to do is review your information and read the documents. We may require further verification of you, if we do, you will be asked.
Your CTF will then be invested into an Adult ISA and you are able to continue saving for your future, with the option to add money and make withdrawals at any time. You can also add our Lifetime ISA to save towards your first home.
Once you have made your choice your account balance will show as £0 - don’t worry, this means your request is processing and will be complete soon.
Non-UK resident? You can still move your savings into an ISA however you cannot contribute into the Plan or add a Lifetime ISA element unless you become a UK resident again.
What is an ISA?
An ISA is a savings pot for adults to save towards their future tax-efficiently (safe from the tax man). There are 4 types of ISAs for adults; Stocks and Shares ISA, Cash ISA, Lifetime ISA and Innovative Finance ISA. The Government sets an ISA allowance each tax year, this amount can be saved into one ISA or a combination, but only one of each ISA can be contributed to each tax year.
Save up to £20,000 each tax year
Add money as you can, with single and/or monthly payments
Access your money at any time
Our ISA
The Foresters ISA is a Stocks and Shares ISA, just like your Stocks and Shares Child Trust Fund (CTF) - which, at 18, will be referred to as your Matured CTF ISA.
You can reinvest your CTF savings to our ISA or Shariah ISA without it counting towards your yearly ISA allowance of £20,000.
Once your ISA is opened you can withdraw and add money as and when you can, from as little as £20.
Parents can contribute to your ISA to help you save, and single contributions which make for a great present on special occasions like birthdays & graduations.
Unlike other providers, we only have one simple charge of 1.5% and we do not charge for transfers or withdrawals.
Investment decisions made for you by professionals at Schroders
Flexible, low payments with online account management
You’re a Foresters member with benefits like MemberDeals & more
All of our funds are professionally managed by Schroders, so you don't have to worry about making investment decisions.
You will have the chance to choose what ISA you would like to open, and if you decide to open a Stakeholder ISA you will get a choice of two funds.
Stakeholder ISA
Whatever your savings goal, invest easily in a choice of funds
- The choice of 2 funds - Invest all the money in one fund or split between the two. You can make a fund switch at any time.
- Both funds consider ESG factors, with the sustainable fund having a specific focus on sustainability.
- The funds are actively managed by the professionals at Schroders
Shariah ISA
Invest for your future in a Shariah compliant ISA
- Our Shariah compliant fund invests in a range of shares from around the world.
- An appointed Shariah Supervisory board and Shariah Adviser to make sure the investment aligns with your beliefs.
- The fund is actively managed by the professionals at Schroders.
Why saving is important
It is easier to save when you have a pot of money already, no matter how big or small it is. Your savings could help you save for your future goals, whether that’s a new car, your first home or even travelling the world. Whatever your goals are, with an ISA, you have the option to withdraw at any time.
40% of 22-29 have no savings at all, so why not start early to give yourself financial security and to make the most of your future.
The average age of a first-time buyer in the UK is 34 years old. This is 6 years older than the average age of a first-time buyer in 2007, which was 28 years old. So if you’re looking to buy your first home, you’ll need an average deposit of £46,200 (based on first-time buyers in 2019). The Lifetime ISA benefits from government contributions which could give you a boost when saving for your first home (LISA rules apply).
Take the money
At age 18 you will have access to your savings and can make a withdrawal if you wish.
By making a full withdrawal (encashment), your Plan with us will close. We have a duty to ensure that we pay only you as the Planholder, so you will need to have a bank account in your name for us to make the payment. Any money encashed will be free from UK taxes.
Once we have completed security checks, withdrawals take 3 to 5 days to process. This means your MyPlans account may show as £0 after you have made the full withdrawal. If you haven’t received the money after 5 days please contact us.
How to access my money with MyPlans
Once you have activated your MyPlans account and turned 18, you are ready to make your choice.
- Login to your MyPlans account and click on the 'Next Steps’ button.
- You will then get to choose whether you would like to reinvest into an ISA (and continue to save) and/or how much you would like to withdraw. Remember you can do a bit of both, but if you want to withdraw it all leave this ISA box as £0.00.
- We then just need you to check your details, and update any we have missing.
- Next you need to provide your bank account (this can be UK or non-UK).
- Finally, all you need to do is review your information. We may require further verification of you, if we do, you will be asked.
Once you have made your choice your account balance will show as £0 - don’t worry, this means your request is processing and will be complete soon.
If you choose to withdraw all the money your Plan with us will close, we will still be here if you want to start saving in the future.
Non-UK resident? When you withdraw the money, you should be aware that the amount you receive may be subject to taxation by the tax authority of the territory in which you live, international charges and exchange rates.
Save some, take some
Want to spend some of your money whilst still investing in your future? You can choose to withdraw any amount and can reinvest the rest into our ISA.
How to continue saving in an ISA with MyPlans
Once you have activated your MyPlans account and turned 18, you are ready to make your choice.
- Login to your MyPlans account and click on the ‘Next Steps’ button.
- You will then get to choose whether you would like to reinvest into an ISA (and continue to save) and/or how much you would like to withdraw. Remember you can do a bit of both.
- We then just need you to check your details, and update any we have missing.
- Next you need to provide your bank account (this can be UK or non-UK).
- If you would like to add any more money you will then get the chance to add how much you would like to save.
- Finally, all you need to do is review your information and read the documents. We may require further verification of you, if we do, you will be asked.
Once you have made your choice your account balance will show as £0 - don’t worry, this means your request is processing and will be complete soon.
If you choose to withdraw all the money your Plan with us will close, we will still be here if you want to start saving in the future.
Non-UK resident? You can still move your savings into an ISA however you cannot contribute into the Plan or add a Lifetime ISA element unless you become a UK resident again. When you withdraw the money, you should be aware that the amount you receive may be subject to taxation by the tax authority of the territory in which you live.
Leave the CTF as it is - What happens if I don't make my choice now?
Still not sure on what to do with your savings? That’s okay, you can leave the money as it is and it will continue to invest in the same fund. You can still activate your online MyPlans account to view the Plan value and performance.
Please note contributions cannot be made after age 18, unless you reinvest in an ISA. This means all payments from family and friends will stop too.
Need help making your decision?
Ready to make your choice?
What IS A Foresters ISA
What IS A
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