CTFs launch with backing of 75 providers, distributors

Some 75 providers and distributors are on-board for the start of the CTF regime, something Brown says is a “good start” to the government’s goal of enabling children to own assets and foster a “savings culture”. CTF accounts would alter the existing situation whereby some 80% of children had no savings, he says. Two million vouchers will be sent in the first batch of CTF mailouts to eligible children born as of 1 September 2002 – the government will add interest to the first cash injection for those who have been eligible since that date, but have not yet received the money. The go...