CTF contribution figures "encouraging"
The latest data revealing the contributions made to child trust funds (CTFs) in the UK have been described as "encouraging" by the Tax Incentivised Savings Association (Tisa).
Around 29 per cent of all CTFs operating were added to over the course of the past three months, Tisa's most recent figures demonstrate.
This equates to more than half a million children in the UK being given a stronger financial foundation from which to being their adult life.
Head of member services at Tisa Carol Knight commented: "It is encouraging to see that nearly a third of CTFs are receiving additional savings.
"However, we believe there is still work to be done in promoting the benefits of the CTF and will continue to work with the government and industry on opportunities to enhance the scheme and to better inform consumers."
In July of this year, Tisa's director general Tony Vine-Lott suggested that the extent of parental involvement in CTF schemes is "getting better and better".
