Chancellor George Osborne announced big changes for the UK's savers in today's Budget, including a revamp of the Isa system and new bonds for over-65s.
Parents may be able to move cash from a Child Trust Fund (CTF) into a junior Isa (JISA) in future, as the Government has launched a consultation on the issue.
The Government will not allow parents whose kids have a Child Trust Fund (CTF) to convert it into a junior Isa, which could leave them languishing on paltry rates.
Lloyds TSB has become the first of the major banks to unveil a junior cash Isa, over three months after the tax-free children's saving scheme was launched.
8 February 2012
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