So how does it all work?
Click a title to read detailed information.
What is the Junior ISA?
As a parent you’ll want to support your child and give them the best opportunities in life. Taking out a Junior ISA is a great way to do just that. It’s a simple way for you, and them, to build up a savings pot for when they turn 18. The policy must be opened by the child’s parent, guardian or person with parental responsibility, but anyone can pay the Direct Debit or add lumps sums. Children aged 16 and 17 can open a JISA themselves.
How to apply
Taking out a Junior ISA with us is simple, you can open the policy with a lump sum, or by setting up a Direct Debit. You can also make top-ups for extra flexibility.
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 once they are 18. No one else can access the savings at any time.
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. Simply download a Transfer Form and submit your application by post.
Choose how you want to save
You can open a Junior ISA with as little as £10 per month or a £500 lump sum, and invest up to the maximum yearly limit. This year’s limit is £4,260. You can stop, start and change the level of contributions whenever you like, and family and friends can pay in too. You can even help your child to get into the savings habit by encouraging them to make their own contributions.
Good growth potential
If you take out a Junior ISA when your child is born or very young, it has the potential for growth over a significant period of time until they turn 18.
The money you save will be invested in our with-profits Order Insurance Fund. This offers the potential for better returns than a cash ISA, but with less risk than would be associated with an ISA invested solely in stocks and shares.
- Your money is invested across a balanced mix of assets to help minimise risk, including property and bonds as well as the stock market.
- We aim to use any profits generated to add an annual bonus.
- Where possible, we aim to pay a final bonus when the plan matures.
The addition of bonuses is not guaranteed so your plan may not receive an annual or final bonus. Bonuses will depend on the future performance of the Order Insurance Fund and how we decide to distribute any profit. In good years, we may hold back some of the return and use it to top up bonuses in years when the fund performs less well. You should also be aware that, depending on investment conditions, your child may not get back the value of the original investment. Inflation will affect what your child can buy when they cash-in their Junior ISA.
Please refer to the Important Information document and the relevant Key Information Document (Monthly Contribution or Lump Sum Payment) for further information on how our Order Insurance Fund works.
A tax free lump sum once they’re 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.
Your child will have access to unique extras
By taking out a Junior ISA, your child automatically becomes a Foresters member. And although they may not take advantage straight away, they’ll have access to a range of brilliant extras that can give them support and assistance when they need it.
- Financial grants for education
We offer a number of discretionary financial grants to support our members with things like higher education.
Practical help and emotional support from a personal nurse adviser is available for any member with a serious health condition.
Discretionary grants are available for members to help with support during difficult times.
- Dental and optical grants
Our discretionary grants include assistance to cover the cost of dental and optical care.
The membership benefits we provide aren't regulated and are regularly reviewed by us to ensure they are relevant to our members.
Foresters Junior ISA (JISA) - Product Performance >>