Do you know what the Child Trust Fund is? Not many UK parents markedly small number of parents seem to have made the discovery that all new babies are given a free £250 voucher from the government to put. This vouchercan be invested in any one of threetypes of CTF account, Stakeholder - a shares-based account that swapsinto cash, a savings account or a shares account. It is a great opportunity to prepare life of a youngster
Scottish Friendly is a licensed provider of the child savings voucher. The State is eager for people to have access to Stakeholder accounts and this is the sort of account that we are catering for.
A major attraction of the saving for children is that anyone - parents, grandparents, aunts and uncles, friends - if they want can contribute to the Fund to a maximum of £1,200 per year to help increase the child’s Fund (once added, this money is not allowed to be withdrawn).
Only infants born on or after 1st September 2002 are entitled to open a Children Trust Fund. If you have children born before the 1st of September 2002 who are not qualified you could contemplate saving for them with a Child Bond - it’s a tax-free savings plan looking for long-term growth. The fact is that saving for your son is a sensible means of preparing for tomorrow.