Have you heard the news about the Child Trust Fund? Not many UK parents markedly insubstantial number of parents appear to have heard of the fact that all newly born babies are given a free £250 voucher from the government to invest. The vouchercan be invested in any one of threekinds of CTF account, Stakeholder - a shares-based account that switchesinto cash, a savings account or a shares account. It is a superb chance to invest financial requirements of a young person
Scottish Friendly is an accredited provider of the child savings voucher. The Government is eager for the public to have access to Stakeholder accounts and this is the form of account that we supply.
A major attraction of the saving for children is that anyone - parents, grandparents, aunts and uncles, friends - can give to the Fund to an uppermost limit of £1,200 per year to help boost the child’s Fund (once added, this money cannot be withdrawn).
Only children whose birthday is on or after 1st September 2002 are permitted to open a Children Trust Fund. If you have older children above-mentioned date who are not allowed you could think about saving for them with a Child Bond - it’s a tax-free savings plan looking for long-term growth. It is evident that investing for your children is a sound means of preparing for tomorrow.
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