Aug 16 2007
Parents looking to give their offspring a good start to their financial lives have now invested more than a quarter of a million pounds in child trust funds (CTFs), it has been revealed.
Figures from the Building Societies Association (BSA) also show that around 70 per cent of all parents in the UK opted to open a cash-based CTF when stakeholder investments were also available.
In addition, the BSA's research demonstrates that close to £22.2 million was added to cash CTFs over the course of the first half of this year.
Adrian Coles, director general of the BSA, said: "For parents who have not yet opened a CTF for their child, now is a perfect time to do it.
"The summer holidays are always a busy time for parents, but everyday the voucher is not invested, valuable interest will be lost and your child will be missing out."
Last month, the Tax Incentivised Savings Association suggested that British parents are boosting their involvement in saving for their children's future.
