An independent survey of savers has revealed that children would be well advised to be born in Wales if they want to benefit from Child Trust Funds (CTFs).
According to the research by Scottish Friendly Assurance, Welsh grandparents planning to make monthly contributions to their grandchildren's CTF accounts are setting aside £31.25, compared with a national average of £23.54.
It's also good to have a Welsh fairy godmother, as the research suggests that two thirds of godparents from the land of the daffodil are likely to top up their godchildren's CTFs, as opposed to 56 per cent nationally.
At a national level, experienced savers are confident in the growth potential of CTFs, the research reveals, with nine out of ten parents surveyed expecting to top up their children's CTF account.
"This study suggests that the Child Trust Fund is going to be extremely popular with people who have already got the savings habit. Based on these findings, the children of experienced savers can look forward to a healthy nest egg at the age of 18," said Harry Gibb, director of marketing for Scottish Friendly.
Current calculations suggest that if family and friends pay in just £100 a month to a child's trust fund, the CTF will be worth £37,445 in today's market when the child reaches 18. Click here to find out more about children's investment.
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