What to Do with a Totally Free Children Trust Fund Voucher from Scottish Friendly, for the Coming Years of Your Precious Ones by Organising Asubstantial Lump Sum to Be Available when They Get Older
15 August 2009Are you aware of the Child Trust Fund and its benefits? Few UK parents surprisingly sparse number of parents appear to appreciate that all infants are given a free £250 voucher from the government to put. The child’s vouchermay be invested in any one of threevarieties of CTF account, Stakeholder – a shares-based account that switchesinto cash, a savings account or a shares account. It is a great opportunity to for the future financial requirements of a child
Scottish Friendly is a designated provider of the child trust fund. The Government is keen for the public at large to have access to Stakeholder accounts and this is the sort of account that we supply.
A particularly advantageous aspect of the saving for children is that anyone – parents, grandparents, aunts and uncles, friends – if they want can give to the Fund to an uppermost limit of £1,200 per year to help augment the child’s Fund (once added, this money is not able to be withdrawn).
Only children who were born on or after 1st September 2002 are authorised to start up a Children Trust Fund. If you have children born before the above-mentioned date who are not eligible you could contemplate investing for them with a Child Bond – it’s a tax-free savings plan intended for long-term growth. It is undoubtedly the case that saving for a child is a sensible means of preparing for the future.
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