Your money, you future, your choice
All the information about what happens next with your Child Trust Fund can be found on this page.
To view your CTF and take your next steps at age 18, you will need to create your MyPlans account.
What happens to my Child Trust Fund at 18?
When you turn 18, your Child Trust Fund (CTF) will mature. This means you can decide what happens with the money in your CTF.
You have three options, they are:
A gift for your future self
Ready to save for your future goals?
Like becoming a homeowner, a business owner or travelling the world. You will thank yourself for continuing to save in an ISA.
Living in the moment
Need to spend the money now?
You can take the money and spend it however you want whether it's for university, driving lessons, a first car or festival tickets. You can live in the moment and make a full withdrawal.
The best of both
Want to treat yourself whilst keeping some money for the future?
This option give you the best of both, and you can take some money now and save the rest in an ISA for the future.
Psst - we offer an ISA with a choice of Funds or a Shariah ISA. Keep reading to find out more about them!
Ready to take control of your savings?
Before you turn 18 you can create your MyPlans account, view the value of your CTF and make sure your details are up to date. To create your MyPlans account you'll need your Plan number or National Insurance number and email address.
From your 18th birthday, your CTF will be referred to as a Matured CTF ISA and you can choose what you would like to do with your money. You can do this on your MyPlans account by selecting 'Next steps'.
If you are not ready to make your decision you can still create your MyPlans account. Your money will stay where it is and continue to invest in the same fund(s). As long as your money is in a Matured CTF ISA no money can be added to the Plan.
You don't have to move the money into a bank account
Saving for your future doesn't mean you have to move money into a savings or bank account with your bank. Investing is another way to save which can offer greater potential for growth. There is also a chance that it could go down during a bad market period, so it's important to remember investing is for the long term.
A Stocks and Shares ISA (Individual Savings Account) is an easy way to do this and means you won't pay tax on any money gained.
With our ISAs, experts make the investment decisions for you so you can spend more time living! The only choice you need to make is how your ISA invests. You can choose between our Stakeholder ISA (which includes a fund which invests sustainably) or our Shariah ISA.
Watch the video below to find out WHAT IS A ISA?
Continue saving in one of our ISAs
Whether you choose to reinvest all of the money from your CTF or some into an ISA with us, you will need to choose which ISA you would like to open. We offer a Stakeholder ISA with the option of two funds, and a Shariah ISA.
Our ISAs:
• For those aged 18+
• Add money from as little as £20
• One annual management charge
• Any money from your CTF does not count towards the £20,000 tax year allowance
• Access to money if you need it (however you should not treat it like a bank account)
• Opportunity for your money to grow.
With an ISA you can make withdrawals when you need to. There is no fee when you withdraw. It may take a few days for the money to reach your bank account unlike cash savings. You can also make contributions to your ISA at anytime.
Choose your ISA
Save in our Stakeholder ISA
When you move money into an ISA, you will also be able to choose how the money is invested. Choose between our stakeholder funds
Foresters Stakeholder (Schroders) Sustainable Future Managed Fund
Invest for an overall positive effect on people and the planet
- Choose to invest your savings fully or partially in this fund
- Invest over the medium to long term in a professionally managed fund by Schroders
- Considers environmental, social and governance (ESG) factors with 0-60% invested in shares.
Foresters Stakeholder (Schroders) Managed Fund;
A global, straightforward fund designed for Foresters customers
- Choose to invest your savings fully or partially in this fund.
- Invest over the medium to long-term in a professionally managed fund by Schroders
- Considers environmental, social and governance (ESG) factors with 0-60% invested in shares.
Or save in our Shariah ISA
Foresters (Schroders) Managed Islamic Global Fund;
Invest in a Shariah compliant fund
• This fund invests in a range of Shariah compliant shares from around the world.
• The fund will only invest in companies included in the Dow Jones Islamic Market World (Net Total Return) Index
• A Shariah Supervisory Board and Shariah Adviser have been appointed to ensure all investments in the fund meet Shariah Investment Guidelines.
Looking to save for your first home?
If you are dreaming about owning your first home, you could move your money into a Lifetime ISA once your Stocks and Shares ISA is set up. You can take advantage of a 25% Government bonus on any money you save here.
Here's what you need to know:
• For those aged 18 to 39
• Save up to £4,000 each tax year
• For every £4 you save the Government will add £1
• Receive up to £1,000 Government bonus
• Gives your savings better potential to grow.
You can also move money from your Stocks and Shares ISA to your Lifetime ISA, however this will count towards the annual Lifetime ISA allowance.
A Lifetime ISA must be held for at least 12 months before using it towards the purchase of a first home. By saving into a Lifetime ISA instead of a workplace pension, you could lose the benefit of employer contributions and the value could affect any entitlement to means tested benefits. If the Lifetime ISA is used for any other reason than saving for later in life or purchasing a first home the Government charge will incur, meaning you may get back less than you have paid in. The value of your investment can fall as well as rise.
Is investing right for me?
Ask yourself what are you saving for and how long are you planning to save?
If it is more than 5 years then investing could be right for you.
• You don't need a large amount of money to start investing a small amount can still pay off.
• You can add little and often to your investment pot.
• You want to save for your future or have a savings goal in mind, such as a house deposit.
• You don't have to be an expert, we've got the experts who do it for you!
Why save with Foresters?
We're trusted by millions
Rated 4.8 out of 5 by our customers, you are one of over 2 million people who's savings are with Foresters.
We care for your community
You can organise your own volunteering activities and make a difference with grants.
We give back when you save with us
When you save with Foresters Financial you become a member. Our exclusive benefits include discounts on your favourite things, events and more!
Most importantly, we're here to help
It's what we do best. We've got articles and videos to help you learn about investing and managing your money. You can also talk to one of our advisers.
Not sure what the right decision is?
If you want to have a chat about your options in more detail, our friendly Financial Advisers can answer questions you have about ISAs, CTF Maturity or investing.
There is no direct cost involved, and you do not have to decide immediately.
Child Trust Fund Maturity FAQs
If you were born between 1st September 2002 and 2nd January 2011, then yes you will have a CTF.
You usually get sent your National Insurance number just before your 16th birthday.
You can find this using your personal tax account via Gov.uk
It will take 3-5 working days after we complete our necessary security checks for the money to reach your account. It doesn't matter how much money you want to take out, we will need to make sure we pay only you as the Planholder.
Everyone who has a Child Trust Fund will have a different amount. It will depend on the value of the initial cash vouchers, if your parents or other family members have added extra money and any potential investment growth.
The easiest way for you to let us know what you want to do is using MyPlans. When you login to your account you’ll see a notification at the top of the screen to let you know ‘Your CTF has matured – Take your next steps’. After you click on ‘Next Steps’ you’ll be able to tell us how much money you want to continue to save, and how much you want now.
For a withdrawal you will need a bank account in your name, where the money can be paid into.
You don’t have to withdraw all the money now. You can take a bit, leaving the rest (or as little as £20) in an ISA. You can withdraw the money in an ISA at anytime, however it should not be used as a bank account, but rather a savings pot for the future.
Your Foresters CTF is invested in stocks and shares. This means the value may fluctuate as the value of investments can go down as well as up.
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