CTF top-ups just keep going up

Child Trust Fund (CTF) top-ups by parents and relatives continue to grow, according to the latest TISA Child Trust Fund Survey.

The survey, taken from almost two-thirds of opened accounts, shows a continued growth in monthly direct debits and lump sum contributions.

TISA’s analysis of 1.77m CTF accounts shows 23.3% of parents have opened an active direct debit subscription – a rise of 0.3% in the past quarter The average monthly subscription is £21.20.

Many still prefer to make lump sum subscriptions. Contributions using this method have also increased with a further 6.3% of accounts having received a lump sum.

Tony Vine-Lott, TISA Director General, said: ‘The news about parental involvement in Child Trust Funds seems to be getting better and better. The number of parents and relatives paying additional direct debits or lump sums into the Child Trust Fund continues to grow with almost one third now making additional contributions.”