All Share ISA

For Child Trust Fund holders when they’ve turned 18

We will write to you on your 18^th birthday to tell you the current value of your investment.

The Child Trust Fund will automatically transfer from a Child Trust Fund into an adult ISA. It will continue to be invested in the stocks and shares of the UKs top 600 companies, until you need it.

When you are 18 only you can make decisions about what to do with the investment.

You can keep it invested with Healthy Investment, you can transfer all or part of it to a different investment or a bank or building society account or you can withdraw all or part of the money invested.

If you want to leave it invested you don’t need to do anything, however the value of the investment will change as the shares the fund is invested in increase or decrease in value.

It’s important that you read the Terms and Conditions of the investment and the Key Information Document. If you have any questions about these, you should contact us, we can help to explain the investment and what your options are.

If any of the details on the letter we sent you are not up to date you must let us know.

When the holder of a Healthy Investment Stakeholder CTF turns 18 their CTF will automatically convert to a Healthy Investment All Share ISA.

You don’t need to do anything; this will happen automatically.

The All Share ISA will continue to be invested in the same investment fund, it will continue to have the same level of charges and you will receive an annual statement to show the value of your investment.

As a stock market based investment the value of the fund can go up and down. What you get back will depend on how well the investments do and you could get back less than has been invested.

Inflation will reduce what your investment will buy in the future.

Tax rules could change in the future.

You should see this ISA as a medium to long-term investment.

This is not unusual as it’s 18 years since it was invested.

HMRC have a tracing service which can be accessed here.

The Share Foundation, a national charity that promotes financial well-being in young people work with a large number of providers, but not all, and they may be able to help trace a lost Child Trust Fund. They estimate that they can trace 60% of CTFs within 24 hours. They can be contacted here.

The Share Foundation website also includes lots of advice on managing your money, that you might find helpful.

Both of these tracing services are free. We have become aware of claims management companies contacting young people offering to trace their Child Trust Fund for a fee, which can be up to 25% of the value of the fund. We believe this is an unnecessary cost and recommend that you use one of the free tracing services.

Your parent or guardian may have entrusted Healthy Investment to invest your Child Trust Fund for you. It may, if the government voucher wasn’t claimed, have been allocated to Healthy Investment by HMRC who worked with a number of the banks, building societies and friendly societies.

That’s entirely up to you. We really mean that. Whilst many young people find it helpful to talk to their parents about how they might continue to invest for their future or use the money in their Child Trust Fund, it’s your decision and one that you should think about carefully.

If you are concerned that someone is pressuring you in to withdrawing your investment then please contact us and we will be able to help you.

Withdrawing from your Child Trust Fund is an important decision. You should think carefully about how you might need that money in the future.

We know young people who have used it towards the cost of going to university, a flat deposit or driving lessons. Many young people have chosen to leave it invested until they need the funds for something significant.

You or your parents or other adults can continue to invest in your All Share ISA.

Investments can be made by regular direct debit, bank transfer (please contact us for our bank details) or by cheque.

Before you or anyone else can invest for you after you have turned 18, you will need to register with us as the ISA holder by downloading this Registration Form. Alternatively, you can contact us, and we will be able to help you.

The Healthy Investment All Share ISA is an investment and the value of the investment can increase and fall based on the performance of the investments within the fund.

Each ISA is made up of a number of units, each of which has a value, which when multiplied together equates to the value of the investment. For example, if the Child Trust Fund or ISA has 100 units and the value of each unit is £1.50 then the value of the investment is £150.

You can find the number of units held in the ISA on your last statement and it’s included clearly on the letter we send you on your 18th birthday.

We publish the value of each unit here.

If you don’t think the contact details, including your address or name, that we have are correct then please contact us so that we can get them updated.

When you have decided that its right to withdrawal all or part of your investment you will need to complete our online withdrawal form and submit it with proof of identification and a copy of your bank details.

We need these to make sure that the funds are only being sent to the right person.

The monies in your investment can only be sent to you. They can’t be sent to a parent, family member or friend.

You can access our online withdrawal portal here.

If you do not have internet access or are unable to provide the necessary documents please contact us and we will be able to help you.

If you’ve got questions or you just want to talk to someone about your investment then please contact us.

Our offices are open Monday to Friday from 9am until 5pm.

You can telephone, email or use our webchat facility.

Details of how to contact us are here.