Jan 12 2007
Parents with questions about child trust funds (CTFs) have been advised to make use of the government's CTF Week, due to run from January 15th-20th.
The Building Societies Association (BSA) has updated its information leaflet aimed at consumers that seeks to answer the main frequently asked questions of parents with regards to the funds.
Brian Morris, head of savings policy at the BSA, said: "The CTF is a great way for parents to start saving for their child's future and if parents have any unanswered questions, CTF week is the perfect opportunity to find the answers.
He added that parents should not stop thinking about their child's CTF after the initial voucher is invested, noting that maximum permitted top-ups can result in a fund being worth up to £37,560 a year.
Earlier this week, Moneyfacts claimed that the key to the future success of the CTF scheme is financially educating the younger generation, recommending introducing the subject onto the national curriculum.
