Nov 28 2007
Twins born in the UK after September 2002 tend to have more money in their respective child trust fund (CTF) accounts than their singular peers, according to recently released figures.
Engage Mutual claims to have more than 130,000 CTF customers nationwide and the financial services firm reports that parents with twins are making more consistent contributions to their children's funds than those who had one child at a time.
In fact, among Engage Mutual's CTF customers, parents of twins are as much as 40 per cent more likely to be making regular contributions to these funds than the typical British parent.
Karl Elliott, 3GB spokesperson for Engage Mutual, said: "It is quite a surprise that twins are more likely to have a parent paying more into their CTF than children who do not have a twin sibling and we can only surmise why this may be.
"However, the tendency towards older mothers to have twins could go someway to explaining why parents of twins are more able and prepared to save for their children's future."
Last month, the Tax Incentivised Savings Association revealed that more than half a million CTF accounts opened on behalf of British children saw increased contribution levels during the second half of this year.
