Research into awareness of the pending Child Trust Fund, which launches next April, has found most parents and grandparents are unaware of the new savings vehicle, the Association of Investment Trusts says.
A whopping 62% of the more than 1,800 adults questioned said they had not heard of CTFs, the Association says. Low-income families are least likely to have heard of the funds, despite standing most to gain from the government’s promise to kickstart funds of children from poorer families with additional money. So-called ‘A’ and ‘B’ socioeconomic groups are those most likely to have heard of the initiative, with 45% responding they had heard of CTFs. The AITC says the findings suggest there is a big communications gap to close ahead of next April. Making CTFs a success may require...
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