My Child Trust Fund (CTF) is maturing – what are my options?

Once you turn 18, you have control of your Child Trust Fund (CTF). If you want to continue saving for your future, you could consider moving your CTF to an ISA to ensure your money stays tax-free.

You can transfer your CTF into two types of AJ Bell ISA account. Both invest your money, holding out for the possibility of higher returns than cash over the long term.

1. Stocks and shares ISA: With our Stocks and shares ISA, you can access your money when you want. Transferring your CTF to a Stocks and shares ISA won’t use up your annual ISA allowance.
2. Lifetime ISA: Our Lifetime ISA helps you save for your first home or for retirement. You’ll receive a 25% government bonus on the money you pay. However, if you want to access your money before age 60 for any reason other than to buy your first home, or if you are terminally ill, you’ll have to pay a 25% withdrawal charge. This could mean you get out less than you put in. Transferring your CTF to a Lifetime ISA will use up some or all of your annual Lifetime ISA allowance.

It's important to choose the type of ISA that best suits your saving goals. Please consult a financial adviser for professional advice, if needed.