What is Junior ISA and Child Trust Fund

Long Term Savings Accounts

Working together to build long term savings  for young people in care

Junior ISAs (JISA) and Child Trust Funds (CTFs) are savings accounts designed to give young people a financial asset as they move into adulthood.

Many young people in care have one of these accounts, which may contain money set aside by the Government and, in some cases, additional contributions. While the money belongs to the young person and can usually only be accessed at age 18, trusted adults play an important role in helping them understand their account, build financial confidence and prepare to make informed decisions about their future.

The Share Foundation works in partnership with every local authority across the UK to administer the savings accounts for young people in care and support in build life skills through incentivised learning.

Whether you're a foster carer, teacher, personal adviser, support worker or another key adult, we're here to help you support young people to make the most of this opportunity.

What The Share Foundation Does

We are appointed by the Department for Education to:

  • Set up and oversee Junior ISAs for eligible children and young people in care

  • Manage Child Trust Fund arrangements for young people in care where there is no adult in position of Parental Responsibility

  • Support young people to understand and access their accounts

  • Deliver financial education and life skills programmes

  • Raise additional funds to enhance savings where possible

A young person may be eligible for a Junior ISA if they:

  • Have been continuously in care for at least 12 months

  • Do not already have a Child Trust Fund

Eligible accounts receive an initial £200 Government contribution.

A young person will likely have a Child Trust Fund if they:

  • Were born in the UK between 1st September 2002 and 2nd January 2011

  • Were eligible via the Government’s Child Benefit scheme

Since 2017, The Share Foundation has been responsible for overseeing Child Trust Fund arrangements for eligible children and young people in care where there is no adult in position of parental responsibility, working closely with local authorities, HMRC and account providers to ensure accounts can be located and accessed.

Supporting young people at key stages

Please also check out our Guiding a Young Person page for more information on how you can support.

  • This is an important period for helping young people:

    • Understand their savings

    • Build up life skills and earn financial rewards at the same time

    • Learn about managing money

    • Prepare to take control of their account at 16

  • Young people can begin managing their own account and making investment decisions. If a young person needs to locate their account, they can do this for FREE with support from us at The Share Foundation. Please signpost young people to our Find your account page.

  • The account becomes fully accessible to the young person.

    Supporting a smooth transition at this stage is essential to ensure they can access and make informed decisions about their savings. See our Action for 18+ page.

Your questions, answered

  • The Share Foundation obtains independent financial advice regarding investment arrangements until the young person becomes eligible to take control of their account.

  • No. The money belongs to the young person and can only be accessed by them once they turn 18, except in very limited circumstances.

  • Yes. Contributions can be made by family members, friends and other supporters, subject to annual account limits.

Need support?

Our team is here to help. Whether you need support with eligibility, account administration, young people approaching 18, or financial education programmes, please get in touch. Call 01296 310400 or email info@sharefound.org.