Retail savings and investment industry body TISA has endorsed the government's plans to allow holders of child trust funds (CTF) to transfer their funds to ISAs upon maturity, outside of the normal annual subscription limits.
The body, whose aim is to influence the direction of financial services regulation, said it had backed the government's plans to allow CTF switch-overs to junior ISAs, provided that those children sticking to their CTFs could shift their money into adult ISAs easily on maturity. The Chancellor announced at the end of last month that the government would permit transfers from CTFs to JISAs, which were previously prohibited. It had held a consultation into allowing the transfers last summer amid concerns that CTF holders were stuck in funds that offered them a worse deal. TISA had in...
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