Yes. The amount invested in a Junior ISA is locked away until the child turns 18, when it can be accessed by only them.
Anyone can contribute to a Junior ISA, although it must be set up by a parent or legal guardian first.
Your child's Junior ISA allowance for the current tax year is £9,000.
Cheques on surrender or maturity of a child's policy must be issued in the child's name, as, for all of our tax-efficient child investments, the money is always payable to the child (with the exception of our Parents Flexible Plan, which allows you to invest for the child using your own tax exempt savings allowance meaning the monies are payable to you and not the child).
If the child does not currently have a bank account then the parent / guardian will need to open an account in the child's name in order to cash the cheque.
Junior ISA
From April 2015, parents whose children have Child Trust Fund accounts can transfer out to a Junior ISA.
If you would like to transfer, please contact us.
Child investments such as the Child Bond, Child Flexible Plan, Grandchild Flexible Plan, Child Trust Fund (CTF) and the Junior ISA (JISA) all belong to the child.
These policies are held under the child's own client reference number, which only they can use once they are over the age of 16 years.
Therefore, we're unable to allow access to these policies via My Plans using your client reference number.
If you are the child's parent or guardian, please contact us to access or manage any of these accounts on behalf of the child.