Fair Investment Company lauds children's Isa

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Fair Investment Company lauds children's Isa

A children's Isa offers a 21st century financial product for parents to save up money for their offspring, according to the Fair Investment Company.

The firm's head of investment and pension research George Ladds criticised child trust funds, suggesting they "probably represent poor value for money" and were old-fashioned.

He noted it would be sensible for an allowance limit to be put on children's Isas at £3,600 and claimed youngsters would benefit from the added choice and flexibility of the product.

Mr Ladds stated: "If we want to encourage savings for children, then we need to create a fair and transparent tax efficient environment for people to invest."

In his view, it is all about giving people more control over how much money they can put away and when the child can receive the cash.

This week, the Fair Investment Company revealed that 86 per cent of the people they polled intend to review their savings while the base rate is at 0.5 per cent.

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