Looked after Children - Junior Individual Savings Accounts

This project is looking to provide advice and guidance about the teaching of personal financial education to those across the UK who have a statutory responsibility for the care of Looked after Children.

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The project
Duration: 
February 2011 to May 2015
Project brief: 
pfeg, as part of a consortium led by The Share Foundation, has been commissioned to provide personal finance education elements of the Looked after Children - Junior Individual Savings Accounts project.
The funding
Funded by: 
Funder brief: 
In October 2010, the Chancellor of the Exchequer announced that the government would create a new tax-free children's savings account, to be known as the Junior ISA, and that accounts would be available from November 2011. In March 2011, it was further announced that the Government would work with charities and interested parties to develop detailed proposals funded by the Government, so that Junior ISAs can best support looked after children in the UK.The Share Foundation are leading a consortium (including Methods Consulting and pfeg) which will delver this contract.

Resources and guidance

As part of the project, pfeg has produced the following documents, which are available to download for free:

  • A guide for Corporate Parents - A resource for institutions who have a statutory responsibility for looked after children across the UK. This document is designed to help those with corporate parenting responsibilities  promote the financial capability of the children and young people in their care, so that they are better able to manage their finances when they become independent. 
  • A guide for carers - This document is designed to help carers and residential care workers promote the financial capability of the children and young people in their care, so that they are better able to manage their finances when they become independent. 

Download these from our financial education for children in care page.

Workbooks for young people in care 

 

  • A financial education workbook for children in care aged 11 - 'Making Money Work for you' is a resource which young people can use themselves which aims to help them think a little more about how they use their money,and the decisions they may need to make in the future. This has been written specifically for young people in care and has a particular emphasis on savings. Download English or Welsh version.
  • A financial education workbook for children in care aged 15 - 'Making Money Work for you' is a resource which young people can use themselves which aims to help them think a little more about how they use their money,and the decisions they may need to make in the future. This has been written specifically for young people in care and has a particular emphasis on savings. Download English or Welsh version.

Download these from our page for young people in care.

Helpline

In addition to the materials above, pfeg also provides a specialist telephone support service, which:

  • Supports corporate parents across the UK by advising them about the resources that were produced for this project, as well as helping them select relevant educational materials which can be used by carers and the young people in their care, to encourage learning about money and in particular savings and Junior ISAs
  • Supports carers across the UK by advising them about the resources that were produced for this project, and in particular how to encourage the young people in their care to engage with the resources created for young people. In addition, carers can seek help with selecting other relevant educational materials which can be used with the young people in their care, to encourage learning about money and in particular savings and Junior ISAs
  • Supports young people in care by signposting them to the materials produced as part of this project, and advising them on further educational materials that will help them learn how to manage their money, including online games, tools and booklets.

Access the helpline by calling 0300 6660 127 or emailing support@pfeg.org

Junior ISA information

For more information about Junior ISAs for Looked After Children, visit the Share Foundation website: www.ShareFound.org

 

Read about previous work we have done around children in care.