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Child Trust Fund Providers

Since the Government's Child Trust Fund initiative was launched, a wide range of Child Trust Fund providers have come onto the market. A Child Trust Fund is an initiative by the Government that provides a £250 savings voucher for every child born on or after the 1st September 2002.

The voucher is used to start a Child Trust Fund savings account, and cannot be accessed until the child has reached the age of 18. Banks, building societies and other investment companies have rushed to take advantage of this scheme, and the majority now offer the Child Trust Fund as one of their investment options. The benefits of a Child Trust Fund are:

The Government makes an initial contribution of £250 and a further contribution when the child turns 7
It is a long-term savings and investment plan - no-one can withdraw the money until the child turns 18
Neither you nor your child will pay tax on income and gains in the account
Anyone can put money into the account. There is a maximum of £1,200 each year, and this can be deposited in the account by parents, family or friends
You can choose the type of account you want for your child: savings, stakeholder or share investment.
children can start to make decisions about how the money is managed when they are 16
The account can be moved to a different provider, or you can change the type of account at any time.
The Child Trust Fund will not affect any benefits or Tax Credits you receive

Child Trust Fund Providers:

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