Children in Care in Guernsey to Receive £10 a Week Savings Scheme

A new Guernsey savings scheme has been announced that will set aside £10 a week for children in care, providing them with a financial foundation when they reach adulthood. According to the States of Guernsey, approximately 40 young people will benefit immediately from the initiative, which applies to children from their entry into the care system.

The program has been established through a partnership between the States’ Children and Family Community Services and the charity Guernsey Community Savings. Officials noted that the transition to independent living can introduce significant financial pressures, ranging from setting up a home to managing everyday living costs.

How the Guernsey Savings Scheme Works

The States will pay a one-off fee to payment services company allpay to establish the scheme infrastructure. Meanwhile, Guernsey Community Savings will open and manage the accounts, collaborating directly with each young person and their social worker as they approach their 18th birthday.

Once eligible individuals turn 18, they will be given the choice of either opening an account directly with Guernsey Community Savings or transferring their accumulated savings to an account of their own choice.

Lucy Cook, associate director of children services, stated that the savings accounts will support young people by helping them access opportunities that might otherwise be out of reach. Cook emphasized that the initiative reflects a corporate commitment to ensure care-experienced young people can look ahead with confidence and hope.

Addressing Financial Vulnerability

Joe Brown, chief executive of Guernsey Community Savings, highlighted that children leaving care are particularly vulnerable to financial exclusion when reaching adulthood. Having savings of their own is designed to offer greater choice, security, and confidence during a major life transition.

As reported by the BBC, the collaborative effort aims to ensure every child in care knows they are valued, supported, and encouraged to achieve their full potential as they take their first steps toward independence.

Source: Children in care to get £10 a week savings (source-feed timestamp 2026-10-22T06:57:45+00:00). AI-assisted report based on the cited linked article and its RSS feed; details were not independently verified.