Add another pot to their Junior ISA

Now you can add your own policy
for a child you love

Help invest towards their future from just £10 a month

My Choice Junior ISA

Your grandchild, niece or nephew's 18th birthday may seem like a long way off, but starting to put some money aside now makes good financial sense.

As a long term tax-efficient investment, adding a My Choice policy within the child's existing Junior ISA could help pay towards anything from university fees to their first car.

The table below shows a summary of the policy and there’s more information, including how to apply, on the detail tab.

Investment features What you need to consider
  • Invest tax-free in the child's existing Junior ISA from £10 a month or a £50 lump sum — or a mix of both.
  • You can raise, lower, stop and restart your payments any time you like.
  • Your money will be invested in a My Choice policy within a Scottish Friendly Junior ISA which invests in funds chosen by the child's Registered Contact.
  • The value of your investments can fall as well as rise, so your child could get back less than you paid in.
  • The fund(s) aims to grow your money over time on the stock market, so it should be considered as a long-term investment.
  • Money in a My Choice policy within a Scottish Friendly Junior ISA belongs to the child. They can only withdraw it when they reach 18.

Tax Information

Tax Information
  • Tax treatment depends on individual circumstances. Tax law may change in the future.
  • Tax-free means the policy grows free of income and capital gains tax (other than tax on dividends from UK shares).
  • You can invest up to £4,080 in the current tax year for your child in an Investment Junior ISA, less any amount subscribed to a Cash Junior ISA with another ISA manager.
  • Available to children under 18 and resident in the UK who didn't qualify for a Child Trust Fund.

No advice has been provided by Scottish Friendly in relation to this plan. If you are in any doubt as to whether this plan is suitable for you, you should contact a financial adviser for advice. If you do not have a financial adviser, you can get details of local financial advisers by visiting Advisers may charge for providing such advice and should confirm any cost beforehand.

Invest for their future goals

At Scottish Friendly, we think you should be able to contribute towards a Junior ISA, and keep track of the investments you make, for a child you love.

That's why My Choice (Junior ISA) allows you to set up your own policy (which we like to call a 'pot') within the child's existing Scottish Friendly Junior ISA. You can even give your pot a name to help you keep track, for example ‘Gift From Granny’, ‘Uncle Allan’s Uni Fund’ or ‘Flat Deposit’.

As long as you stay within their annual allowance, you can add as many pots as you like for the child – for whatever future savings goal you choose.

Add another pot from £10 a month or £50 lump sum

When you add your own pot you can choose to pay monthly by Direct Debit, a lump sum or a combination of both.

Monthly payments start from only £10 to keep it affordable, and you can make lump sums of £50 and up. That's provided your contributions, current investments already made into this Junior ISA, and any savings paid into a Cash Junior ISA with another ISA Manager, do not exceed the child's £4,080 allowance.

Your money is invested in a fund or range of funds already selected by the child's registered contact. 

Protect your gift to them from the taxman

Your investments for the child are sheltered from the taxman. They're free from income tax and capital gains tax (other than tax on dividends from UK shares). However, the value of the investment can go down as well as up and the child could get back less than has been paid in. Bear in mind that tax laws could change in the future and tax treatment depends on individual circumstances.

The Junior ISA belongs to the child and only they can withdraw the money once they are 18 years old, so all payments are a gift to the child which cannot be returned.

Flexible payment options to suit you

Don't worry about being locked into your initial payments. Your policy has the option to raise or lower the amount you invest at any time. If you’d like to take a break, that’s okay too – just re-start when you’re ready.

Of course, if you’re investing for a certain goal, then stopping your payments will mean it takes you longer to reach it. It’s also important to remember that you’re aiming to grow a lump sum for your child using the long-term growth potential of the stock market, so you should think about a My Choice policy as a long-term investment.

Getting started is simple

Adding another pot to a child's existing Junior ISA is straight forward. Before you apply you'll need a couple of details so we can make sure your policy is added correctly.

You'll need:

  • the child's client reference number
  • the child's date of birth

The child's client reference number is a unique reference we allocate in our system to identify them. The child's registered contact (usually their parent or guardian) is given this number when they open a Junior ISA with us.

Simply ask them to let you know the number and you're ready to apply online today.

Our application form will guide you through the process. If you need a helping hand with anything, or would like any further information before applying please contact us on 0333 323 5433.

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