1st November 2011 heralded some exciting changes for the ways you can save for your child’s future and the amount that can be saved in a tax-efficient manner.
Child Trust Fund
The amount that can be saved into a Child Trust Fund has been increased from £1,200 per year to £3,600 per year which is welcome news given the ever increasing costs of education, getting on the property ladder or buying a first car (and the ever increasing cost of insuring it).
You can find out more about the Forester Life Child Trust Fund
here.
You can see the effect increased contributions could have
here.Junior ISA
A new savings initiative was launched in the UK designed to allow adults to save on behalf of children who are not eligible for a Child Trust Fund. The Junior ISA also allows contributions of up to £3,600 per year to be saved.
Further information about the Junior ISA can be found
here.
Please go
here to register your interest in a Forester Life Junior ISA.