The 'lifestyling' of stakeholder child trust funds (CTFs) by providers should begin when account holders reach age 15, two years later than currently, the government has proposed.
Financial secretary David Gauke announced on 22 July the government will formally consult in 2015 on the application of the lifestyling requirement to over four million stakeholder CTFs. He said a number of respondents to the government's recent consultation on the transfer of funds from CTFs to Junior ISAs (JISAs) questioned the value of lifestyling for many CTF holders. "The government wishes to explore this issue further through consultation with CTF providers, account holders, parents and other interested groups," Gauke said. The consultation will take place alongside the gover...
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