Savings accounts to be set up for children in care

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Donors who wish to give money directly to children in care will be able to do so through a new savings account, the Department for Education has announced.

The Share Foundation has been appointed to support more than 55,000 children who are in long term care. The charity will open a Junior Individual Savings Accounts (Junior ISAs) for every young person who has been in care for more than a year, who does not have a Child Trust Fund, and the Government will kick start each account with a payment of £200.

The charity will also seek to raise money from donors which will then be distributed amongst the open accounts.

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