My Child Trust Fund (CTF) is maturing – what are my options?
Once you turn 18, you'll have control of your CTF. If you want to continue saving for your future, you could consider moving your CTF to an ISA to ensure your money stays tax-free.
We offer two ISAs you can transfer to, which let you invest your money – holding out for the possibility for higher returns than cash over the long term. With our Stocks and shares ISA, you can access your money when you want, and transferring your CTF won’t use up your annual ISA allowance. Our Lifetime ISA, meanwhile, helps you save for your first home, or for retirement, with a 25% Government bonus on the money you pay in. You’ll have to pay a 20% withdrawal charge (25% from 6 April 2021) though, if you want to access your money before age 60 for any reason other than to buy your first home, or if you are terminally ill. This could mean you get out less than you put in. Transferring your CTF to a Lifetime ISA will use up some or all of your annual Lifetime ISA allowance.
- Do you offer a Flexible ISA?
- How many ISAs can I have?
- If I transfer in a Stocks and shares ISA will it count towards my annual ISA allowance?
- Are there any conditions I have to meet to open a Stocks and shares ISA?
- Do you offer a cash ISA?
- Can I open an ISA with an initial lump sum and top up at a later date?