What to Do with a Free Child Trust Fund Voucher from Scottish Friendly, for the Security of Your Child by Organising Ahuge Lump Sum of Money to Be Saved when They Get Older
Do you know what the Child Trust Fund is? Hardly any mothers and fathers remarkably small number of parents appear to have heard of the fact that all infants receive a free £250 voucher from the the State to put. The vouchermay be invested in any one of threetypes of CTF account, Stakeholder – a shares-based account that switchesinto cash, a savings account or a shares account. It is an excellent way to save life of a child
Scottish Friendly is a licensed provider of the child trust fund. The Government is keen for the general public to have access to Stakeholder accounts and this is the kind of account that we provide.
A key feature of the saving for children is that anyone – parents, grandparents, aunts and uncles, friends – can add to the Fund to a ceiling of £1,200 per year to help augment the child’s Fund (once added, this money may not be withdrawn).
Only children who were born on or after 1st September 2002 are entitled to start up a Children Trust Fund. If you have older kids above-mentioned date who are not eligible you could contemplate saving for them with a Child Bond – it’s a tax-free savings plan aiming for long-term growth. There can be no doubt that saving for your daughter is a sensible means of preparing for the world to come.
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