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Best Child Trust Fund Provider

There are many options on the market when it comes to Child Trust Funds, so it is important that you shop around to find the best Child Trust Fund provider with whom to invest your child's money.

Child Trust Fund Providers:

Engage Mutual Insurance »

All children born on or after September 1st 2002 will benefit from the Government's Child Trust Fund initiate, whereby each child receives a £250 voucher when they are born and at age seven, to invest for their future. The vouchers cannot be out into a normal account, it must be a Child Trust Fund. Anyone can put money into that trust fund – up to a maximum of £1,200 a year – but it cannot be accessed by anyone, including the child, until that child is 18.

The Child Trust Fund was introduced in order to:

ensure children have savings when they reach adulthood
help children get into the habit of saving at a young age
teach children the benefits of saving
help children understand personal finance

Finding the best Child Trust Fund provider is important, because they all offer different options, including basic savings accounts, shareholder accounts and higher risk share investment accounts. Although it is important to do a thorough comparison before deciding which option to go for, if you do change your mind about the type of account or whether who you have chosen is the best Child Trust Fund provider, you can switch accounts.