Child Trust Funds (CTFs) and Junior Individual Savings Accounts (JISAs) for Children Who Are in Care Continuously for 12 Months Plus

1. What is a Child Trust Fund?

Child Trust Funds (CTFs) were introduced by the government in 2002 and replaced with Junior ISAs in 2011. They are tax-free savings and investment accounts for children. All children born between 1st September 2002 and 2nd January 2011 should have a Child Trust Fund in place opened by the person with parental responsibility claiming child benefit from the child's birth.

If after one year an account had not been opened, the HMRC would open a Child Trust Fund account for the child if child benefit had been claimed. If a child became looked after before a child benefit award was made, and they were eligible for a Child Trust Fund, HMRC opened an account for them with £500.

1.1 CTF Eligibility Criteria

To be eligible for a Child Trust Fund a child must have been:

Born between 1 September 2002 and 2 January 2011;
Has received Child Benefit or been looked after by a Local Authority, Health or Children's Trust;
Under 18 years of age;
Lived in the UK during that period and not subject to immigration restrictions;
In care for an unbroken period of 12 months or more (for the account to be managed by the Sharefoundation).

1.2 Who Manages a Child Trust Fund?

Child Trust Funds for children in care for an unbroken period of 12 months plus are managed by the Share Foundation (TSF) until they are 18 and leave care or when they leave care aged under 18 and the responsible adult with parental responsibility takes over responsibility for the account. The money in a CTF belongs to the child however neither the child nor person with parental responsibility has access to the money. A child cannot take money out until they are 18 years old.

In some circumstances, a 16+ young person or a nominated person with parental responsibility may not be able to continue to manage their account. In this event, please contact CIMT Tel: 07867358693 or Email: tracey.britton@birminghamchildrenstrust.co.uk.

Where the Social Worker has assessed it as appropriate for a parent, or connected person with parental responsibility, to manage the account on the child's behalf this will be reflected in the child's care plan and CIMT must be supplied with the name of the person with parental responsibility, or the child aged 16, who will manage the account. Where there are changes, staff should provide CIMT with the details so that they can notify the Share Foundation.

Children in care (aged under 16) and their carers are sent details of the scheme (including TSF reference numbers) by the Children's Information Management Team (CIMT). The Share Foundation write to children in care when they are approaching age 16 and 18 to explain how to take control of their CTF account. A young person aged 16+ can request to manage their own account by completing the online form Click here so they receive annual statements direct from the provider and can withdraw their funds when they turn 18. The Sharefoundation can be contacted by emailing: info@sharefound.org.

Unaccompanied asylum seeking children (UASC) of Child Trust Fund age may be eligible for a Junior ISA rather than a Child Trust Fund.

No one can hold both a Child Trust Fund and a Junior ISA.

With effect from 6 April 2015, money held in a Child Trust Fund can be transferred to a Junior ISA. When this occurs the Child Trust Fund will be closed.

Click here to access information leaflets.

1.2.1 Child Trust Fund Accounts for Young People Aged 16+ in Care Less Than 12 Months

Young people can use the Sharefoundation online form to find their CTF. Please see here: Young person's simplified CTF Search (Age 16 or over only). The TSF email for queries is CTF@sharefound.org.

The National Insurance number, names and DOB are required on the Sharefoundations online form. The telephone number for obtaining National Insurance numbers is 0300 200 3500.

The Sharefoundation will respond to confirm which provider holds the Child Trust Fund. If further information is needed they will contact the young person by phone. email or post.

1.3 Table of Government Contributions Received into Child Trust Funds

Child's birthday	Government contribution	Additional money
1st September 2002 to 1st August 2010	£250	Further £250 for children in families on low incomes
If a child's 7th birthday fell between 1st September 2009 and 31 July 2010 (the child's date of birth needs to be between 1st Sep 2002 and 31st July 2003)	An extra payment on their birthday of £250	Further £250 for children in families on low-income or in care
2nd August 2010 to 2nd January 2011	£50	Further £100 for children in families on low incomes
1st September 2002 to 2nd January 2011 and was in receipt of Disability Living Allowance (DLA) anytime from 1st January 2010 to 3rd January 2011	£100	Children entitled to DLA at the highest rate care component received a Child Trust Fund disability payment of £200

2. What is a Junior ISA (JISA)?

In November 2011, the Government introduced a Junior ISA scheme to support long term savings for all children who are looked after continuously for 12 months or more.

For each eligible child in care the Government pays £200 into a Junior ISA.

Junior ISA Eligibility Criteria

To be eligible, a young person must be:

Under 18 years old;
Continuously looked after for at least 12 months;
Resident in the UK
Children born between 1 September 2002 and 2 January 2011 are entitled to a Child Trust Fund. These can be converted into a Junior ISA (unless UASC);
Not in respite care.

2.1 Who Manages the Junior ISA Account?

Children in care (aged under 16) and their carers are sent details of the scheme (including TSF reference numbers) by the Children's Information Management Team (CIMT)

The Sharefoundation write to the children in care when they are approaching age 16 and 18 to explain how they can take control of their JISA. A young person aged 16 or over can request to manage their own account by completing this online form: Click here.

No one can hold both a Child Trust Fund and a Junior ISA. With effect from 6 April 2015, funds can be transferred from a Child Trust Fund to a Junior ISA.

Click to access information on Junior ISAs.

Click here to access information leaflets.

2.2 Junior ISA (JISA) and Child Trust Fund (CTF) Chart Based on Age

Junior ISA (JISA) and Child Trust Fund (CTF) charts based on the child or young person's age can be accessed using the links below:

3. Purpose of Child Trust Funds and Junior ISAs

Child Trust Funds and Junior ISAs support children and young people to:

Understand money and appreciate its value;
Learn about managing their finances;
Encourage them to think about financial planning and how to budget;
Enhance their financial capability skills;
Encourage them to save;
Provide financial assistance to them in later life.

These skills empower young people, preparing them for tasks they will undertake as adults such as when they set up home. Every Social Worker involved in a young person's life should embed financial planning, awareness and guidance in the ongoing support provided to them. This will help them to become well rounded and knowledgeable adults capable of managing their own financial affairs. Please see money guide leaflets 17-22.

3.1 In the Event of a Child Death Whilst in Care

For a deceased child whilst in care follow the guidance here for CTF's or JISAs. The beneficiary should complete and return the Authorisation Form here (leaflet 16) to their Social Worker. This will allow them to communicate directly with the Share Foundation. The form countersigned by the Social Worker should be sent to CIMT. (Note: in the case of terminally ill children, the person with parental responsibility can request permission to withdraw funds).

4. Staff Responsibilities to Support Young People Who Have a Junior ISA or Child Trust Fund (CTF)

Social Workers, carers, Virtual School Advisors and Mentors, Schools, After Care Advisers and Independent Reviewing Officers (IROs) all have a role to play in supporting young people who are entitled to a Junior ISA or Child Trust Fund. Further guidance is available in the following Roles and Remits section.

5. Roles and Remit Guidance

5.1 Social Worker

The Social Worker is responsible for ensuring that a Junior ISA/Child Trust Fund is included in the Care Plan as soon as the young person meets the eligibility criteria. This can be reflected in the Children in Care section Self Care Skills and in the Pathway Plan section for Money. Once an account has been opened, Social Workers should ensure that the carer, parent and child are made aware they have a Junior ISA or Child Trust Fund (CTF) and that it forms part of the young person's financial planning, awareness and ongoing guidance. The child's file should be updated accordingly to reflect this.

Social Workers should ensure children's files have accurate and up-to-date details i.e. names, DOB, gender, address, country of birth, national insurance number (reference number), contact details, date entered and left care, legal status and UASC.

When a young person, under the age of 18, is discharged from care, a discussion needs to take place with the person with parental responsibility to let them know there is an account and that they will receive information about it. This discussion must be recorded on the child's electronic file.

Further information is available on The Share Foundation's website

5.2 Independent Reviewing Officer (IRO)

The Independent Reviewing Officer (IRO) must ensure The Children's Trust carries out their duty as good corporate parents by ensuring children who are eligible for a Junior ISA/Child Trust Fund receive the funding they are entitled to and that this is reflected in the Care and Pathway Plans. Where appropriate, they must ensure young people, carers and parents receive suitable advice about the child's account.

5.3 Children's Information Management Team (CIMT)

Tracey Britton from the Children's Information Management Team (CIMT) is the main point of contact for The Share Foundation (TSF). CIMT responsibilities include the submission of monthly data to TSF to allow the setting up of Junior ISAs (or managing Child Trust Funds) on behalf of the child.

Contact Details:
Tel: 07867 358693
Email: tracey.britton@birminghamchildrenstrust.co.uk
Postal address: Tracey Britton IMT, C/O Philippa Read, Birmingham Children's Trust, New Aston House, Alma Street, Birmingham. B19 2RL

6. Record Keeping

Letters, cheques and CTF statements received from TSF and BCT letters regarding JISAs and CTFs are stored by Business Support on the child's record in Eclipse. They will be stored in Eclipse under case records, Resource and Support, Finance correspondence.

The filing format will be either:

TSF ISA CTF Care leaver letter PER Number Date sent;
TSF ISA CTF CIC letter PER Number Date sent;
TSF ISA CTF Cheque PER Number Date sent;
TSF ISA CTF Form PER Number Date sent;
Search e-records or case notes using 'CTF' or 'ISA'.

A case note is added and an automated notification is sent to the allocated Social Worker.

If you are unable to find a letter on the system please email Business Support Finance at: FinancialAdminCareLeavers@birminghamchildrenstrust.co.uk.

For all children already adopted please contact the Adoptions Team at: BSSFamilyFinding@birminghamchildrenstrust.co.uk.

7. How to Make a Financial Contribution into a Junior ISA or Child Trust Fund where the account is managed by the Share Foundation

Anyone can contribute to a Child Trust Fund or Junior ISA up to the sum of £9,000* per tax year. A contribution form can be accessed online here for the accounts of young people (in care only) managed by the Share Foundation. Cheques must be made payable to 'The Share Foundation' and sent with a signed hard copy of the form to: The Share Foundation, 1st Floor, Ardenham Court, Oxford Road, Aylesbury HP19 8HT. Please write the TSF No on the back of the cheque and name of the child.

The Share foundation will accept the form here using info@sharefound.org if the money is being transferred electronically. For TSF numbers contact Tracey Britton at: FinancialAdminCareLeavers@birminghamchildrenstrust.co.uk.

*Note: this figure may be reviewed annually

8. Where to Get Further Advice and Support for a Junior ISA or Child Trust Fund (CTF)

The Share Foundation website.

The Share Foundation's contact email address is info@sharefound.org or Tel: 01296 310400 for general advice.

Please see The Share Foundation's - FAQ's page and access to leaflets for JISAs or CTFs.

9. National Insurance Numbers for Children in Care

A Social Worker should apply for the National Insurance number after a child is 15 years and 9 months old. See Guidance on how to apply for a NI number, for a looked after child.

Appendix 1

Child Trust Fund and Junior ISA Checklist for Social Workers and IROs

Checklist	Tick or Cross
Has the child been in care continuously for more than 12 months? If yes, they are eligible for a Child Trust Fund or Junior ISA managed by The Share Foundation. Has this been reflected in the child's Care Plan and discussed at the Child in Care Review?
Do you know the details for the Child Trust Fund or Junior ISA? (Please note: CTF or JISA account details for children in care continuously for 12 months and over are not normally shared with BCT). No Check the finance section on the child's electronic file (see Section 6, Record Keeping for further details). Yes Reflect the child's financial needs in their Care Plan and Pathway Plan. If you are unable to find a letter (under Resource and Support,: Finance correspondence) please email: Business Support finance: FinancialAdminCareLeavers@birminghamchildrenstrust.co.uk or Adoptions: BSSFamilyFinding@birminghamchildrenstrust.co.uk or CMIT: tracey.britton@birminghamchildrenstrust.co.uk Sharefoundation Email address: info@sharefound.org
Does the child in care have a responsible adult with parental responsibility (PR) for them who can manage the Child Trust Fund on their behalf? No The Share Foundation will manage the account while the child is in care until the child is either 16 and takes over responsibility for the CTF or until 18 years when it changes to an adult ISA. Yes Contact the responsible adult with PR to confirm if they want to manage the Child Trust Fund account on behalf of the child and supply CMIT with the name of the responsible adult with PR. (See Section 1, What is a Child Trust Fund?). Note: TSF will manage all JISA accounts until a child leaves care or becomes 16 and wishes to take control of the account themselves.
Aged 16 or Over? A young person (aged 16 or over) who has been in care continuously for 12 months or more can take control of their account by completing one of the following online forms: Age 16 & 17: Web: Sharefound.org Email: CTF@sharefound.org Turns age 18 after 1 September 2020 Web: Sharefound.org Email: CTF@sharefound.org A care leaver who became age 18 before 1 September 2020 (born since 3rd January 1994): Web: Sharefound.org Email: info@sharefound.org
In care less than 12 months with a CTF? Young people can use the Sharefoundation online form to find their CTF. Please see here: Young person's simplified CTF Search (Age 16 or over only). The TSF email for queries is CTF@sharefound.org They need their National Insurance number, name and DOB to complete either form See Section 9, National Insurance Numbers for Children in Care. The telephone number for obtaining National Insurance numbers is 0300 200 3500. Reflect the discussion and plan for this within the young person's Pathway Plan.
Making a contribution to the Child Trust Fund or Junior ISA for a child in care continuously for more than 12 months? See Section 7 of the Child Trust Fund and Junior ISA guidance. Ensure any contributions are reflected on the child's file and carers and family members are notified of this process to encourage contributions. A contribution form can be accessed here.