An ISA for
The next generation
For any parent, knowing your child has a secure future is absolutely priceless. Our Junior ISA (JISA) can help to put some solid building blocks in place so that your little ones can grow and flourish. When they turn 18 they will have a savings pot they can put towards the next step in their life.
We all dream about giving our children the best start in life – and that includes financially. It’s a great feeling knowing that they have savings growing as they do. Our Junior ISA gives you the chance to invest simply in their future. The plan must be opened by the child’s parent or guardian, but anyone can set up the Direct Debit or add lumps sums. Children aged 16 and 17 can open a JISA themselves.
Why choose the Junior ISA?
It is a simple and affordable way to build up a savings pot for your child for when they reach 18.
Available for children aged 0 – 18. Children aged 16 and 17 can open a JISA themselves.
You can save up to £4,368 this tax year by saving regularly from £10 per month, investing a lump sum of £500 and making top ups of at least £50.
Once opened friends and family can pay in too.
Your money is invested in our top performing With Profits fund and has the potential to grow thanks to annual and final bonuses. (Source: Barnett Waddingham Survey Dec 2018)
Access to Foresters Extras – membership benefits – including discretionary grants to help you to cover the cost of things like higher education and healthcare costs.
“I applied for the Educational Award as my father had done 25 years ago. The grant has helped support my A-Level studies by enabling me to buy text books and stationery.
Thanks to the continued support of Foresters Friendly Society, I’m confident that I will be able to achieve the grades I need to achieve my goal of going to university.”
Who can open a Junior ISA (JISA)?
A Junior ISA must be opened by the child’s parent, guardian or person with parental responsibility, but anyone can set up a Direct Debit or add lumps sums.
The parent or guardian will manage the account until the child is 16, when they’ll take control of it, but you, or other family and friends, can continue to contribute. The child will be able to access the money paid into the Junior ISA and any annual bonuses that have been added once they are 18. No one else can access the savings.
Children aged 16 and 17 can open a JISA themselves.
How many Junior ISAs can I open?
Your child can have a Junior Cash ISA, a Junior Stocks and Shares ISA or both. If they hold both, the combined total which can be saved this year must still be within the annual Junior ISA allowance.
Unlike Adult ISAs where it’s possible to have multiple ISA accounts from different tax years, your child can only hold one cash Junior ISA and one stocks and shares Junior ISA. So if your child already has a stocks and shares Junior ISA with £5,000 saved into it and you want to open a Foresters stocks and shares Junior ISA, you will need to transfer the £5,000 into our Junior ISA.
Our Junior ISA is categorised as a Stocks and Shares JISA and transfers from other Junior ISAs will be managed on your behalf, making the process as easy as possible for you. All you need to do is complete a simple form.
Can a Junior ISA be held alongside a Child Trust Fund (CTF)?
If the child already has a Child Trust Fund (CTF), they can’t hold both products, but the CTF can be transferred into the Junior ISA, as can another Junior ISA held with another provider. To transfer a CTF or Junior ISA into our Junior ISA, simply download a Transfer Form and submit your application by post.
Are there any charges?
There is an Annual Management Charge which is initially set at 1.9% of the value of your Junior ISA. We deduct charges upfront before we declare bonuses. This means there are no additional charges for you to pay. This charge could change, but we promise it will never exceed 3% of the value of your Junior ISA in any one year. The charges are designed to cover our costs for administering the JISA on your behalf. For more information about charges, please take a few minutes to read the relevant Junior ISA Key Information Document and Important Information.
Where is my money invested?
Your money is invested in our top performing with profits Order Insurance Fund with the aim of providing investment growth. Dependent on the performance of our fund, we aim to add annual bonuses and a final bonus to your child’s Junior ISA which will increase their plan’s value. The addition of bonuses is not guaranteed.
We never forget it’s your child’s money, so we take extra good care of it. Within our fund, your money is spread across a number of different types of investments to help minimise risk and increase the potential returns. This way your money benefits from exposure to a range of asset classes which may include equities (company shares), fixed interest bonds (government and company), property and cash.
What interest does the Junior ISA plan pay?
The Foresters Stocks & Shares Junior ISA doesn’t pay interest. Instead, by investing the money you pay into the plan into our Order Insurance with profits Fund we provide the potential for growth through bonuses. What growth your child’s Junior ISA receives will depend on the performance of our fund.
The following annual bonus rates have been declared for the Junior ISA:
|Year||Annual Bonus Rate|
The annual bonus rate is applied to the amounts you have invested, less the amounts you have withdrawn, and any annual bonuses that have been previously added.
The addition of any bonus is not guaranteed and your child may not get back the full amount originally invested, dependent on the investment conditions at withdrawal.
To find out more about the addition of bonuses and how we manage our fund please read our Principles and Practices of Financial Management (PPFM).
We may vary the design of a product to best meet the needs of our policyholders which may affect the timing and size of future bonuses. Therefore the above table is provided for information purposes only and should not be considered an indication of likely future performance.
Can withdrawals be made from a JISA?
No – no one can access the funds legally before the child turns 18. In other words, the plan is locked.
What happens to the Junior ISA when the child turns 18?
Once your child turns 18 they’ll be able to access their Junior ISA. Their lump sum will either continue to be invested as an adult ISA, or the money can be used to further their plans. It could help them with university fees, saving towards a deposit on a house, or even buy their first car.
What happens if the person paying contributions passes away before the child reaches 18?
Anyone can pay into the Junior ISA so, in this case, another person can carry on with the payments.
What if I change my mind?
After your application is accepted you will receive a statutory notice of your right to cancel. You will then have 30 days from the commencement date of the Junior ISA, or the date the notice is received, whichever is later, in which to change your mind. Something often referred to as a cooling-off period.
For more information please see the Important Information document.
I’m not sure if a Junior ISA is right for me. What should I do?
If you’re unsure as to the suitability of this product you should seek advice from a Financial Adviser.
Added value for your child – Foresters Extras
Taking out a Junior ISA means your child is part of the Foresters Friendly family, and can enjoy some wonderful, unique benefits including discretionary grants to help with higher education costs when the time comes and to support life’s ups and downs.
Ready to get started? APPLY ONLINE
We’re here if you need help or have any questions
If you’re a little stuck and need help, please get in touch. Our UK based team can help to make things as smooth and easy as possible (lines are open Monday to Friday 9 am to 5 pm).