The ISA limit for 2011/12 has been confirmed as £10,680, up to half of which can be held in a Cash ISA. A new Junior ISA is to be launched in a bid to encourage savings for children, although the government will not make any contributions to the new arrangements. Junior ISAs are expected to operate in a similar way to the adult version, with investment in Cash and Stocks & Shares. The government intends for Junior ISAs to be available from 2011. The government has announced it will make available £1.5 billion to compensate Equitable Life policyholders. Funding is to be made available for the National Employment Savings Trust (NEST) with auto enrolment from 2012.
To read more about savings for Children click here: http://www.fiduciawealth.co.uk/tag/saving-for-children/