Dec 13 2007
A new child trust fund (CTF) account has been made available by Tesco as it aims to attract customers looking to give their sons and daughters a solid financial start to their adult lives.
Highlighting the potential available to parents in the UK, Tesco has pointed out that as much as £12.5 million worth of government-issued CTF vouchers are as yet unclaimed in the UK.
Moreover, the supermarket giant and financial services provider claims that almost a quarter of eligible British families have not yet used the CTF contribution that is freely available to them.
"We know from this government research that over 50,000 families have yet to claim their share of the £12.5 million plus in unclaimed vouchers," said Jeremy Sutton, head of savings at Tesco.
"By offering a CTF and by promoting it in-store, we hope to raise awareness among our customers so that they can ensure they are getting the benefits owed to them."
Earlier this year, the Treasury urged British parents and other family members to contribute as regularly as they can to CTF accounts.
