Most parents with Child Trust Funds (CTFs) are failing to make the most of them because they are not topping them up, research suggests.
The Tax Incentivised Savings Association (TISA) says only a minority of CTF investors have active monthly direct debit subscriptions. However, TISA says the amount parents are contributing is continuing to climb, with the average monthly subscription up to £21.86 from £21.20. Tony Vine-Lott, TISA director general, says: “Bearing in mind the financial ‘squeeze’ that is affecting so many families at the moment, the continuing increase in the level of regular savings into a CTF is particularly encouraging. “However while the number of CTFs with a direct debit subscription now exceeds half a...
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