Jan 9 2008
Almost half of all families with a son or daughter born after September 2002 are contributing regularly to a child trust fund (CTF), it has been claimed.
Financial services firm the Children's Mutual reports that the number of parents saving for children in the UK has "leapt dramatically" in recent years.
In fact, the organisation insists that CTFs have helped make children born in the UK since 2002 part of the first generation ever to have a bright future in terms of their finances.
"Our figures show that family engagement with the CTF has increased hugely, with more and more families now saving regularly for their children," said David White, chief executive of the Children's Mutual.
"Families of every social background are saving, meaning the CTF really will help to provide a financial springboard into adulthood for the 'trust fund generation'," he added.
Abbey asserted recently that would-be savers in the UK can still get a good deal on their investments, despite the recent cut in the base rate of interest by the Bank of England.
