Parents positive about saving for their children’s futures

As we enter the 12th Positive Parenting Week, leading Child Trust Fund provider, The Children's Mutual, is highlighting the great steps that many parents and families in the UK are already taking towards saving for their children's futures.

The Child Trust Fund success story so far:

More than four million children (30 per cent of all children under 18) now have a Child Trust Fund

Nearly one million Child Trust Fund accounts (22 per cent) are being topped up monthly by direct debit

The average monthly direct debit being paid into a Child Trust Fund held with The Children's Mutual is £24. If this were paid monthly from birth until the child reaches 18, it could result in a lump sum of £9,750 upon maturity

One in 10 children who have their Child Trust Fund with The Children's Mutual also receive money from their grandparents every month, - on average they are even more generous paying £28 a month

In September 2009 the first Child Trust Fund children will start to turn seven and will receive a further £250, or £500 for lower income families, from the Government into their Child Trust Fund

The 2009 Budget outlined additional annual payments of £100 or £200 from the Government for disabled and severely disabled children respectively. On top of the Government's £250 payment at birth and age seven, and any gifts from friends and family, an additional £100 a year paid into a Child Trust Fund could mean more than an extra £3,000 at age 18 and for severely disabled children £200 a year could mean more than £6,000 extra.

David White, Chief Executive, The Children's Mutual comments, "Positive parenting, and having a positive effect on your children's lives can take many forms. One way in which parents across the UK are taking very positive steps to save for their children's futures is by using the Child Trust Fund. By doing this parents are helping to give their children a firm financial footing as they enter their adult lives that could be worth up to £37,000 when they reach age 18."

For further information on The Children's Mutual, visit thechildrensmutual.co.uk