Tesco Personal Finance: CTF is good way to save

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Tesco Personal Finance: CTF is good way to save

Thu 13th Dec 2007

Parents who are planning for their children's financial future could benefit from investing in a child trust fund (CTF), according to Tesco Personal Finance.

Some 98 per cent of parents who are eligible to participate in the CTF scheme are aware of the advantages of such savings, a government report cited by Tesco has revealed.

However, 25 per cent of respondents said they have not yet taken advantage of the opportunity to invest in a CTF.

Responding to the findings, head of Tesco Savings Jeremy Sutton said that the firm wants "to make it easier for our customers to benefit from this scheme".

"By offering a CTF and by promoting it in-store, we hope to raise awareness among our customers so that they can ensure they are getting the benefits owed to them," he remarked.

LV= research recently revealed that it costs around £186,000 to raise a child.

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