Junior ISA

For more information on the financial terms used in this page, please consult the glossary.

How do Junior ISAs work?

If you're a parent or guardian, setting up a Junior ISA with myM&G is a simple and flexible way to save for your child's future.

Junior ISAs are special tax-efficient savings accounts that can be accessed by children when they turn 18 – so you really could be playing an important part in your child's financial future.

The tax rules for Junior ISAs may change in the future, and their tax advantages depend on your individual circumstances.

Please note that any losses made in a Junior ISA cannot be used to offset gains elsewhere.

Invest in a Junior ISA with myM&G

• If you have parental responsibility or legal guardianship for a child, it's easy to open a Junior ISA – when you've done this, you are known as the Junior ISA's 'Registered Contact'
• As the Registered Contact, you can manage the Junior ISA on myM&G alongside any other M&G investments you may have
• You can invest up to £9,000 in a Junior ISA in the current tax year with either a lump sum or regular monthly contributions
• Just like an ISA, the Junior ISA is tax-efficient, so you won't need to pay personal income or capital gains tax on any profits
• Tax-efficient status also means you can still claim any tax allowances that you're due because of your age or personal circumstances
• Setting up a Junior ISA will have no effect on your individual ISA allowance (which is £20,000 during the current tax year)
• It's easy for others to add money to the Junior ISA – they just need to make a bank transfer to you (the Registered Contact). Once you‘ve received the money in your account, you can then start investing for them
• Children can control their own accounts once they reach 16 and can access their money aged 18 – at this point the Junior ISA turns into an ISA
• We'll never charge you for transferring your child's Junior ISA to another provider
• Junior ISAs are available to all UK resident children who don't already have a Child Trust Fund (CTF). If a child already has a CTF it can be transferred into a Junior ISA but the child cannot hold both