The Department for Education has appointed The Share Foundation to establish Junior ISAs for children and young people in care (known as 'Looked After'). We're responsible for:
The diagram below sets out the relationship between The Share Foundation and those involved, and our website is designed to provide easy access for each audience. Central co-ordination of the Junior ISA scheme means that we can reduce the administrative workload to a minimum and do our best to build up the value of funds held for young people in care.
The Government announced this support for children and
young people who have been in care
for at least one year and do not have a Child Trust Fund: first, in the 2011 Budget and then
in more detail in Autumn 2011. Key to the plans is the help of Local Authorities throughout England, Wales, Scotland and Northern Ireland in identifying eligible children and young people so that The Share Foundation can open the accounts and attract further funds for them. During the first year of operations we have opened over 40,000 Junior ISAs and sent a further 3,000 £200 cheques to eligible young people too old to receive a Junior ISA.