Welcome
We've dedicated this page to provide you with more information about who we are and about the transfer of the Halifax Child Trust Funds (CTFs) to Forester Life.
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COVID-19 and your child's CTF
In March 2020 the financial markets were severely impacted by the coronavirus pandemic. As a result, you may have noticed an impact on the value of your child’s CTF during this period.
By the time we took over your child’s CTF on 10th April 2020, the underlying fund had recovered from the low levels in March 2020 It is likely that the information you would have received in your transfer pack highlighted the market impact at the time to the CTF. However, for the most up-to-date Plan value, you can check this at anytime online 24/7 by activating your online MyPlans account.
As with all stock market investments, the value of the fund will continue to both rise and fall and therefore any change in value of the CTF is solely for this reason and is not as a result of the transfer from Halifax to us.
Driven to share not shareholder driven
Forester Life is a mutual financial services company with over £5.2bn funds under management, as of 31st December 2022. Our UK based operations look after around 3 million members and customers helping them achieve their financial goals. We are part of an international membership organisation, Foresters Financial, operating in the UK, Canada and the US. We exist for the benefit of our members, customers and their communities.
Our unique history began in 1874 when we set out to provide access to life insurance for working families. Nearly 150 years later we provide life and critical illness insurance, income protection, together with a range of savings and investment products to meet your family's needs at various stages of life.
We are one of the largest CTF Providers with over 1.2 million customers choosing to save for their child's future with us. Do you have any other children? Keep all of your child savings in one place, open a Junior ISA for them or transfer their savings to us.
More about the transfer
Your child's CTF has now been transferred from Halifax to us. Your child's CTF continues to invest in the same fund as before, the UK Large Company Tracker Fund. The total annual charge for looking after the CTF will remain at only 1% per annum. This is the only charge and covers everything from investment management charges to administration.
As part of the transfer, the Registered Contact would have received a transfer closing statement showing the final value of the CTF with Halifax, together with the new Forester Life personalised Plan Document. This details the amount transferred, any regular monthly payments, and the Plan's Terms and Conditions.
In addition, we also provided you with details about how to create your online MyPlans account, which you are now able to activate.
Important payment information
Any Direct Debits set up will continue to collect as normal, this includes any made by family and friends. The only change you will see is Forester Life instead of Halifax on your bank statement. You can continue to save from as little as £10 and you can choose any collection date to suit your payment needs.
Please note, although we planned to move any standing order payments set up with Halifax, this has not been possible. We kindly ask that you cancel any current standing order payments as the bank account has been closed and therefore any gift contributions will be returned. Both Halifax and ourselves apologise for any inconvenience caused, however, you can set up a new gift contribution using our bank account details below.
Doing business in a way that suits you
We offer a comprehensive choice of services, whether this is online, email, telephone, face-to-face or video.
The Registered Contact can view and manage the child’s CTF online 24/7 by creating a MyPlans account. With MyPlans you can view the Plan value, fund performance, access your document library and make contributions.
Family and friends can create their own MyPlans gifter account where they can make payments online too.
Making the most of your child's CTF with Forester Life
The information below details just some of the benefits of having your child's CTF with us and the service we will provide.
Take a look at our Child Trust Fund Extra page for more information about the product, how it is invested, payments and important documents.
Online account management
You have access to an online account, MyPlans. By creating a MyPlans account you will be able to make single and monthly contributions to the child’s Plan, view the Plan value, fund performance, fund information and access your document library online 24/7.
Family and friends can also create their own MyPlans gifter account. They can see their payments, past performance of the fund, access personal correspondence and make further contributions. If you are currently contributing to a CTF by Direct Debit, you can create your MyPlans account.
If you are making a new payment into the CTF you can set up your MyPlans gifter account at the end of your contribution application.
Payment flexibility
We offer flexibility with your contributions, from the type of payment to how you can make them. You can make payments in five easy ways.
Online
Debit card, direct credit and monthly Direct Debits can be set up online. For Direct Debits, you can choose any collection date to suit your payment needs. You can also make online payments by creating your MyPlans account.
Phone
You can set up a Direct Debit and make debit card payments by calling Customer Services on 0333 600 0333. Lines are open from 8:30am - 5:00pm Monday to Friday.
Post
You can send us a cheque, payable to Forester Life to Freepost RSKL-ATSJ-JHYS, Forester Life, Foresters House, 2 Cromwell Avenue, Bromley, BR2 9BF. Please write the child’s name and Plan number on the back of the cheque.
Direct from your bank
You can make a payment by direct credit with your bank or building society using the details below. Please ensure you quote the Plan number as the reference. Account name: Forester Life Account Number: 00761060 Account Sort Code: 60-00-01 For overseas customers – IBAN: GB16NWBK6000 0100 7610 60
Face-to-face
Direct Debits, cheques and direct credits can be made with one of our Financial Advisers. Our Advisers are paid directly, and therefore they will not charge for any advice given.
When your child reaches 18
Just before your child's 18th birthday we will provide details about the options available at maturity and the value of the CTF.
On their 18th birthday the CTF will mature and automatically be transferred to an ISA in their name. The ISA will continue to invest in the same fund as before, with the same charges and tax-free status, although regulations do not allow us to accept any further contributions into the Plan.
From age 18 onwards the Planholder will have a variety of options. The money can be left in the Plan before deciding whether to make an encashment, or they can reinvest all or some of the money in an Adult ISA. They will be able to do this online, over the phone, or get face-to-face advice should they wish.
For more information visit our Child Trust Fund Information Hub >
At age 18, your child will also have access to their member benefits, which they can access through their MyForesters account. Find out more here >
Reducing investment risk
We offer an optional benefit called Lifestyling which changes the way that the Plan is invested from the child’s 15th birthday up until maturity, reducing investment risk. Lifestyling continues to provide potential for growth, whilst progressively reducing investment risk, by moving a proportion of any contributions and the fund value from the existing fund into a lower risk managed fund, with
less exposure to equities. We will provide more information before your child's 15th birthday to enable you to choose to opt into this benefit. For more information, please read the Child Trust Fund Extra brochure.
Keeping pace with inflation
An additional benefit of the Plan is that we will provide an easy way to keep your contributions in line with inflation. Each year we will increase your monthly contribution by the Retail Price Index (subject to a minimum of 2.5% and maximum contribution limit). This is one less thing to think about whilst you save for their future. We will write to you each year before this happens and you have the option to opt out of this at any time.
Covered by the FSCS
The CTF is covered by the Financial Services Compensation Scheme (FSCS). This means if in the unlikely event that we cannot meet our obligations, your child will be entitled to 100% of the value of their CTF.
A unit-linked life plan
The CTF invests into a unit-linked plan which will continue to invest directly into the same fund as before, the UK Large Company Tracker Fund. The unit price changes directly in line with the investment performance of the fund. View the recent updates to the fund >
Tax treatment depends on individual circumstances and may be subject to change in the future. As with all stock market investments, the value of your child's Child Trust Fund can fall as well as rise, and you may get back less than has been paid in.
What is a CTF?
Read our article to find out all of the information you need to know about Child Trust Funds, from when the money can be accessed to maximising contributions.
Guide to ISAs
ISAs are an excellent way of saving. But did you know you have a choice of five ISAs suitable from Lifetime ISAs to Junior ISAs. Take a look for more information.
Money made simple
Investment and money-saving tips from Schroders, one of our fund managers. The MoneyLensopens in new window team's mission is to help you take control of your financial future with the help of their jargon-free guidesopens in new window.
What happens to CTFs when the child reaches age 18?
We look after over 1.2 million child savings Plans so we understand the importance of making sure we keep our customers up to date. If you’d like to know more about how the Planholders will be able to access their money when they reach 18, or would like to know more details, we have created a hub with the information.
Want to read more finance related articles? Visit MoneyLens