Parents may miss out on advantages associated with the Child Trust Fund a new survey says after a th...
Parents may miss out on advantages associated with the Child Trust Fund a new survey says after a third of respondents indicated that a lack of information meant they had not even heard of the new tax-efficient savings vehicle.
The Children's Mutual (TCM), the trading name of the Tunbridge Wells Equitable Marketing Group, says its response to this finding is to launch an information service to advise parents of further information about the CTF as and when it is released by the government.
More than 9 out of 10 respondents said they wanted more information about the CTF programme, particularly as nearly 8 in 10 said they would be likely to top up any government money used to kick-start the funds.
TCM says that without such top-ups, the CTF will fail the government's objective of spurring increased savings on behalf of children to secure their tertiary education or other financial demands when they turn 18.
The first batch of children eligible for the CTF are those born from September 2002.
To register for information updated from TCM, parents should log on to www.thechildrensmutual.co.uk or call TCM's CTF line on 0500-800-840.
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Ceremony will take place 13 November