Jul 18 2007
The news about child trust funds (CTFs) in the UK is getting better and better as parents across the country aim to give their children a solid financial footing when they reach the age of 18, it has been claimed.
Reflecting on recently collected data showing that the amounts being contributed to CTF's in the UK is on the up, the director general of the Tax Incentivised Savings Association (Tisa) Tony Vine-Lott made clear that Britons are making progress when it comes to child savings.
"The number of parents and relatives paying additional direct debits or lump sums into the CTF continues to grow with almost one third now making additional contributions," said Mr Vine-Lott.
He added: "The news about parental involvement in CTF seems to be getting better and better."
Figures from Tisa show that over the last three months the number of parents adding to CTFs by direct debit has risen to 23.3 per cent and the number of contributions being made by way of a lump sum has increased by 6.4 per cent.
Tisa bosses welcomed the figures from HM Revenues and Customs recently showing that investments in individual savings accounts are increasing in the UK.
