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Child Trust Funds
Bank of mum and dad make children’s savings a priority
As the Government ends contributions to children's savings via the Child Trust Fund scheme at the end of the 2010, new research from Halifax reveals that parents of school children continue to make saving for their future a priority.
Generous grandparents spend over £6k on each child
As parents begin to feel the pinch of Government cuts, new research from M&S Money reveals that grandparents in the UK are providing more than £6000 of support to grandchildren. Over the first 18 years of each grandchild’s life, grandparents gift on average £6165 in either money or presents.
Royal marriage turns spotlight on wedding costs
The announcement of the engagement of Prince William and Kate Middleton has brought wedding costs into the spotlight, with some estimates that the event next year could cost upwards of £50m.
How to instill good financial habits in your teens
While many parents are working to educate their children, new research from M&S Money on over 3,000 under 18s suggests that some teens (14 - 18 years old) are not being given basic help on money matters by their parents.
Children choose caring careers over X-Factor stardom
Children (8 - 13 year olds) are more likely to want to ‘serve and protect' than see their name up in lights when it comes to future career aspirations, according to research from M&S Money.
New tax-free savings account for children
Financial Secretary to the Treasury, Mark Hoban, has announced that the Government will create a new tax free children's savings account. The new account, described as a ‘Junior ISA', will offer parents a simple and tax free way to save for their child's future.
Family Investments named Best Child Trust Fund Provider 2010
Family Investments, the nation's largest Child Trust Fund (CTF) provider, last week won the Best Child Trust Fund Provider category at the 2010 Investment Life & Pensions Moneyfacts awards.
Parents need to start saving for children's future early
The monthly cost of being a student has risen 28 per cent since 2004, according to analysis by Family Investments, a leading children's saving provider. Full time students now face total living costs of £718 up from £561 in 2004.
CTF contributions still strong
Contributions to Child Trust Funds have continued to increase - according to the latest quarterly statistics from TISA - despite the government announcement that children born after the end of this year will not qualify for an account.
Family Investments offers haven for Child Trust Fund vouchers
The value of Child Trust Fund (CTF) vouchers will fall from £250 to £50 as of the 1st August 2011, and the second £250 payment to children on their seventh birthday will also cease from this date.
Children's Mutual CTF suspension reignites calls for Children's ISA
George Ladds, head of savings and investments research at Fair Investment Company comments on The Children's Mutual's decision to stop taking new business to all but its most basic Child Trust Fund Account and urges the Government to offer alternative options:
Pensions - a good alternative to CTFs
Following the coalition Government's decision to stop Child Trust Fund accounts being opened from January 2011, Shelagh Hamer, pension specialist at NFU Mutual, explains why pensions could be a good alternative for investing in a child's future.
Rethink required on CTF wind-down
The phased withdrawal of Child Trust Fund vouchers announced this week by the new coalition Government needs to be reconsidered, according to F&C's Head of Corporate Affairs, Jason Hollands.
AIC calls for Child Trust Fund to continue
The AIC has called on the Government to allow new parents the option to set up and contribute to Child Trust Funds even after Government contributions have been phased out. This would have no significant impact on tax revenues, but would encourage new parents to save for their children's future.
Eligible families urged to make the most of Child Trust Funds
Parents of 18 to 30-year-olds are warning families of younger children to start saving now to fund the future, with nearly a third (28 per cent) saying that they have either remortgaged or are planning to remortgage to fund their child's adulthood.