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Foresters look after over 1 million children savings plans

We look after over 1.5 million children's savings Plans

 

Our customer satisfaction rating 

Our customers rate us 4.7 out of 5 stars

 

Taking care of family finances for over 140 years

Taking care of family finances for over 145 years

 

We offer choice in how you do business with us

Choose how you do business with us

 

A Child Trust Fund with Forester Life

We are proud to look after over 1.5 million child savings plans. When a child reaches their 18th birthday, we hope that the money saved for them gives them a head start in life as they begin their journey into adulthood, but we don’t want it to stop there. We want to be there for the other milestones in their life; saving for their first home, their children and protecting the ones they love.

Our Purpose is to help people save, protect their families and give back to our members, their families and the communities they live in.

I would like to know more about my Child Trust Fund

teenagers

CTFs in a nutshell

Child Trust Funds were designed to provide a tax efficient way to give you a financial head start when you turn 18. If you were born in the UK between 1st September 2002 and 2nd January 2011 the chances are you will have a Child Trust Fund which would have been started with a Government contribution of up to £500.

Child Trust Funds can be invested in cash or in stocks and shares (like the Child Trust Funds we provide). Anyone can pay into your Child Trust Fund up to a limit of £9,000 each year running from birthday to birthday.

From the age of 16 you can take control of your Child Trust Fund, but you don’t have to do this, your parents or guardians can continue to look after your Child Trust Fund on your behalf until your 18th birthday.

 

What's the latest?

The good news is that the Government has confirmed that Child Trust Funds will not lose their tax advantaged status when they mature.

When you reach age 18 your Child Trust Fund with us will automatically become a matured Child Trust Fund account. Your Plan will remain substantially the same as before until we receive your instructions stating what you would like to do next.

We are not allowed to accept any further contributions into your matured Child Trust Fund.

 

 

What are my options?

You can continue to save, withdraw or reinvest your money or choose a combination from these options.

Once we have received your instructions you can:
• Reinvest your money to an adult ISA and continue to save with us
• Withdraw some of your money and reinvest the remainder in an ISA with us
• Withdraw all of your money
• Transfer your money to another provider
• Leave it until you are ready to make your decision

 

Reinvest your money and continue to save with us

You can decide whether you would like to reinvest your money in a Stocks and Shares ISA and/or a Lifetime ISA.

You can save into our ISA from as little as £20 up to your overall allowance of £20,000 each tax year, of which £4,000 can be saved into the Lifetime ISA.

Any money reinvested from your Child Trust Fund does not count towards your annual ISA contributions allowance except for any money moved into the Lifetime ISA, which will count towards your Lifetime ISA allowance for the year.

 

Save some and take some

You may have earmarked some of your money to spend when you turn 18 so you have the option of withdrawing some and reinvesting the remainder into an ISA. 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 so that we can make the payment. In addition, we may also require proof of your identity.

   

Withdraw all the money

By withdrawing all your money 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 so that we can make the payment and in addition we may also require proof of your identity.

 

What happens if I live abroad?

You still have the same options; however, the only difference is that if you move the money into a Stocks and Shares ISA and/or a Lifetime ISA, you cannot contribute into the Plan unless you become a UK resident again.

 

How do I make my decision?

You can get further help and information from us in the way that suits you best whether online, over the telephone or face-to-face advice and use any of these methods to make your decision.

I would like to know what will happen to my child's CTF

teenagers 

What's the latest?

The good news is that the Government has confirmed that Child Trust Funds will not lose their tax advantaged status when they mature.

When your child reaches age 18 their Child Trust Fund with us will automatically become a matured Child Trust Fund account. The Plan will remain substantially the same as before until we receive instructions stating what they would like to do next.

We are not allowed to accept any further contributions into the matured Child Trust Fund.

 

What happens at age 18?

Your child can continue to save, withdraw or reinvest their money or choose a combination from these options.

Once we have received their instructions your child can:
• Reinvest their money to an adult ISA and continue to save with us
• Withdraw some of their money and reinvest the remainder in an ISA with us
• Withdraw all of their money
• Transfer their money to another provider
• Leave it until they are ready to make their decision

  

Reinvesting and continuing to save with us

Your child can decide whether they would like to reinvest their money in a Stocks and Shares ISA and/or a Lifetime ISA.

They can save into our ISA from as little as £20 up to their overall allowance of £20,000 each tax year, of which £4,000 can be saved into the Lifetime ISA.

Any money reinvested from their Child Trust Fund does not count towards their annual ISA contributions allowance except for any money moved into the Lifetime ISA, which will count towards their Lifetime ISA allowance for the year.

 

Save some and take some

They may have earmarked some of the money to spend when they turn 18 so your child has the option of withdrawing some and reinvesting the remainder into an ISA. We have a duty to ensure that we pay only your child as the Planholder so they will need to have a bank account in their name so that we can make the payment. In addition, we may also require proof of their identity.

 

  

Withdraw all the money

By withdrawing all their money, the Plan with us will close. We have a duty to ensure that we pay only your child as the Planholder so they will need to have a bank account in their name so that we can make the payment and in addition we may also require proof of their identity.

 

What happens if we live abroad?

Your child still has the same options; however, the only difference is that if they move their money into a Stocks and Shares ISA and/or a Lifetime ISA, they cannot contribute into the Plan unless they become a UK resident again.

 

 

How does my child make their decision?

Your child can get further help and information from us in the way that suits them best whether online, over the telephone or face-to-face advice and use any of these methods to make their decision.

 

 

I pay into the Child Trust Fund - what are my options?

When the child reaches age 18 and the Child Trust Fund matures, we will no longer be permitted to accept any further payments into the Plan. However, if the child chooses to continue to save with us, you may still be able to gift into their new Plan.

Of course, you always have the option to take out an ISA or Savings & Investment Plan with us in your own name, whether to save for yourself, or on behalf of the child, or for both of you.

Did you know, you can contribute to a Child Trust Fund held with us online? Find out more >

Tax treatment depends on individual circumstances and may be subject to change in the future. As with all stock market investments the value may fall as well as rise and you may get back less than has been paid in.

Not sure where your CTF is? Find out if your CTF is with us

Information on this page is based on our current understanding and may change in the future. This information will be updated accordingly.

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Looking for more information? Find out about your Child Trust Fund with us