Administration of the Junior Individual Savings Account (JISA) scheme for looked after children and care leavers

In 2011, the Coalition Government ceased funding Child Trust Funds (CTFs) but agreed to establish a new scheme, funded and organised by DfE, to provide children who had been looked after for 12 months with a JISA, with an initial payment from Government of £200. JISAs and CTFs are long term tax-advantaged saving accounts for children up to the age of 18. To date the scheme has been managed by a contractor and the Department is seeking a supplier to continue managing and administering the scheme. Some of the aspects of the service required include opening accounts for these vulnerable young people with the initial Government contribution of £200. The supplier will also be ensuring that…

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