Child Trust Fund take-up declines in March

Its latest research reveals 21,000 Child Trust Fund accounts were opened in March by providers that offer both the cash and stakeholder option. In all, 62% of parents opted for the cash option in March, where a choice was offered while net receipts into cash Child Trust Funds in March stood at £7.8m To date, 374,000 cash Child Trust Fund accounts have been opened, with £125m held in total balances. Brian Morris, head of savings policy at the Building Societies Association, says market share among cash providers of Child Trust Funds has remained fairly constant over the last twelve mont...