Britons urged to provide support to grandchildren through Junior ISAs – returns explained | Personal Finance | Finance
The benefit of a JISA is that while it must be set up by a parent or guardian, other relatives and friends can also help to boost the savings.
However, new research has revealed grandparents saving into a JISA since 2011 could have boosted their grandchild’s savings pots by 30 percent – if they chose a stocks and shares version over a cash ISA.
The analysis was conducted by the Centre for Economics and Business Research (CEBR) on behalf of Scottish Friendly, and looked into the kind of returns Britons may have been able to clinch.
It revealed a grandparent saving the maximum amount into a cash JISA each year since 2011 – £44,836 – would have made £2,241 in interest over the past nine years.