Junior ISAs Virtually Unknown
Published / Last Updated on 01/08/2013
Junior ISAs Virtually Unknown.
Research by Halifax has claimed that the majority of the population are not aware that Junior ISAs exist as a savings option for their children.
Halifax said that it had surveyed over 2,000 families and only 15% were aware of or had saved in a Junior ISA (JISA) for children.
The JISA has all the same tax benefits as an adult ISA and but with a yearly savings limit currently at £3,720.
Comment
The JISA was launched to replace the costly Child Trust Fund (CTF). However, the JISA has never been marketed in the same manner as the CTF.
Want to learn about Junior ISAs? Read our JISA article