Children in care to get £10 a week savings
Summary
The government of Guernsey has started a savings program that puts aside £10 each week for children in care. These children can access the money when they turn 18 to help with the costs of starting adult life.Key Facts
- The program is run by Guernsey's Children and Family Community Services and Guernsey Community Savings.
- About 40 children currently in care will begin benefiting from the scheme immediately.
- The money is saved weekly, starting from when the child enters care.
- At 18, the young person can open an account with Guernsey Community Savings or move the money to another bank.
- The scheme helps tackle financial challenges young people in care face as they become independent.
- The States of Guernsey pays a one-time fee to set up the program through a payment company called allpay.
- Social workers support the young people in managing their savings as they approach adulthood.
- The goal is to give children in care a better financial foundation and more confidence as they grow up.
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