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Child Trust Fund

The Child Trust Fund was introduced by the government to provide a long-term savings and investment account for children. Different providers offer varying rates of interest, so compare them to find the best deal.The Child Trust Fund has the following goals:

To ensure that a child has savings once they are age 18.
To help children get in the habit of saving.
To teach children the benefits of saving.
To help children understand personal finance.

Any child born after September 1st of 2002 is eligible for the scheme. They are sent a £250 voucher with which a new account is started for them. Once they are 18, they can do what they wish with the money. Up to an additional £1,200 can be saved in the Child Trust Fund each year. This money is effectively exempt from tax, allowing your child to save efficiently and to benefit greatly in the future.

Child Trust Fund Providers:

Engage Mutual Insurance »