Give Your Child a Head Start
With inflation on the rise, it is becoming more and more important to plan ahead and secure your child’s future. This website is aimed at providing you with useful information to do just that. There are many ways of ensuring that your child has a firm financial foundation when he or she reaches adulthood. The sooner you start saving (or investing), the better it is for your child.
Choosing the right savings plan or investment vehicle for your child needs to be a well-informed decision. With so many products and providers available, it is quite easy to get confused. This website will help you make up your mind and guide you to the plan that best suits you.
The Child Trust Fund (CTF) is a government initiative aimed at ensuring the financial security of children when they come of age. It is a long-term savings and investment account that the government has introduced in order to ensure that your child begins his adult life (age 18) with some savings already in his account. Money can be withdrawn from the account by the child only, when he/she turns 18.
Having such an account also allows your child to understand personal finance and the benefits of savings, so that he or she can plan his own future.
The account is usually opened by a parent or guardian and that person becomes the registered contact for receiving statements, documentation, communication etc. When the child reaches the age of 16, he/she becomes the registered contact for the account and must contact the provider to make the necessary changes in the communication details. When they reach the age of 18, they will have full access to the money in the account.
A child is allowed to have only one CTF (Child Trust Fund) i.e. it is not possible to spread your finances across multiple accounts of different levels of risk. However, it is possible to change the type of account (if you needs should change) and even change the provider.
There are two types of Child Trust Funds offered by Family investments.
- Stakeholder Child Trust Fund
- Ethical Stakeholder Child Trust Fund
A stakeholder child trust is where Government choose automatically a child fund if you do not redeem the Child Trust Voucher for 12 months. These accounts will be according to the Govt. guidelines and there will be a charge of 1.5% annually. The entire amount is invested in stock market and there is total risk on your money.
Why choose Family Investments?
- Most Trusted Child Trust Fund Provider
- Above 1.1 million CTF accounts
- Online account management
- Recommended by customers and many accounts by referrals.
- As a mutual we're owned by our customers, so our profits are reinvested for their benefit.
- 35 years experience of providing financial solutions for families
- Chosen to provide the Child Trust Funds for high street names such as Santander, the Post Office and Barclays
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