CTFs could get a boost this Christmas
www.moneynews.co.uk > General finance > CTFs could get a boost this Christmas
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Money News |
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CTFs could get a boost this Christmas
Tue 21st Nov 2006
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Lump sum payments into CTFs increased by 80 per cent over last year's festive period meaning that children could be in line for another bumper savings boost.
The research undertaken by CTF discovered that the average child in the UK receives gifts worth around £330 at Christmas, underlining the possibilities for boosting their CTF.
David White, chief executive of the Children's Mutual, said: "We're expecting to see a flurry of CTF cheques in January as the Xmas factor hits the UK."
"More than 2.5 million children now have a Child Trust Fund account and we think that chocolate coins won't be the only money they receive this Christmas," he continued.
CTFs are a government scheme designed to encourage parents and children to save for their future. Any child born on or after September 1st 2002 automatically qualifies for a voucher worth £250 to open an account.
Related News : General finance |
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