As the government gets ready to start its Child Trust Fund, Sainsbury's Bank has said that it will be entering the market, with a little help from Family Investments.
The high street retailer believes its presence will help boost the new government initiative - that will see all the babies in the country given at least a £250 voucher that they can invest tax-free. This money will become available to the child on their 18th birthday and family and friends can top-up this amount throughout the child's life.
"This is an exciting government initiative and one which we support wholeheartedly. The more options there are for people to save the better," said Gail Quinn of Sainsbury's Bank.
"We believe that the key to closing the savings gap lies in finding ways in which to make it easier for people to save. Given how often people visit supermarkets, we believe that we have a major role to play in encouraging people to start saving more. Offering a Child Trust Fund will be an important part of our savings proposition," added Ms Quinn.To find out more about child investment, click here.
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