My Child Trust Fund is maturing, what are my options?
Your OneFamily Child Trust Fund matures when you turn 18. At this point, you'll be able to choose how to use the money in your child trust fund to set you up for the future you want.
When you log into your account after you turn 18, you'll see options to:
- Move your money into an ISA
- Move your money into a lifetime ISA (to put it towards buying your first home)
- Move some of your money into one (or both) of the above ISAs and withdraw the rest
- Withdraw all of the money (it's important to have a plan if you choose this option, otherwise it's very easy to spend more than you intended!)
You can take your time to decide. If you do nothing, your money will simply stay invested and your account will become a 'Matured Child Trust Fund'. However, you can't pay into this type of account.
Find out more in our Next Steps guide.
You may also be interested in:
What are ISAs?
ISAs are Individual Savings Accounts that can be either cash or stocks and shares. Find out everything you need to know about ISAs, how they work and how you can use them to keep growing your money.
How to access your Child Trust Fund
You can become the registered contact for your child trust fund at 16, and you'll be able to do what you want with your money at 18. Find out more about how you can access your child trust fund.
Should I reinvest my Child Trust Fund money?
When you gain access to your child trust fund at 18, you'll be able to withdraw or reinvest your money. Find out more about what it means to reinvest and what your options are to keep growing your money.
Is it better to save or invest your money?
When you start putting money away for the future, you'll have to choose between investing your money or saving it in cash. Find out how each option works and which could be best for you and your goals.