Hopes of junior ISA announcement

%VIRTUAL-SkimlinksPromo%Savings experts have expressed hope that families with cash trapped in millions of children's savings accounts which are in a state of "terminal decline" will be allowed to transfer the money into better-value Junior Isas in plans announced tomorrow.

More than six million children hold a Child Trust Fund (CTF) and they are currently barred from being able to access a Junior Isa or Jisa, which is the successor tax-free children's savings account and tends to offer higher returns.