What to Do with a Totally Free Child Trust Fund Voucher from Scottish Friendly, for the Future Happiness of Your Little One by Organising Alarge Lump Sum to Be Saved when They Turn Eighteen
August 14th, 2009Do you know what the Child Trust Fund is? A noticably small number of parents appear to have heard of the fact that all newly born babies get a free £250 voucher from the the State to invest. This vouchermay be invested in any one of threesorts of CTF account, Stakeholder – a shares-based account that switchesinto cash, a savings account or a shares account. It is a superb chance to prepare financial requirements of a infant
Scottish Friendly is a designated provider of the child trust fund. The Government is eager for the public at large to have access to Stakeholder accounts and this is the type of account that we are catering for.
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to an uppermost limit of £1,200 per year to help augment the child’s Fund (once added, this money is not able to be withdrawn).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 whose birthday is on or after 1st September 2002 are permitted to open a Children Trust Fund. If you have children born before the above-mentioned date who are not qualified you could consider investing 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 rewarding means of preparing for hard times that may lie ahead.
