Confused by Child Trust Funds?
Friday, 03 September 2010 04:18
A reader from Sussex is expecting a baby and wants to know about the Child Trust Fund options.
Andy McKechnie, head of sales and marketing for savings at Halifax, tackles the problem.
Terry from Brighton asks:
My wife and I are expecting our first child in September.
We want to start a Child Trust Fund for our newborn but are confused about the options.
How do we find out more?
Andy replies:
Child Trust Funds (CTF) were introduced by the government to make it easier to save for a child’s future.
For all the information you need on Child Trust Funds and how they operate, visit http://www.childtrustfund.gov.uk/
In addition to a Child Trust Fund, there are a number of different ways you can save for your child’s future.
Just like any other savings accounts, there is a wide range of different children’s savings accounts on the market that offer varying levels of access with interest rates to match.
I’d recommend speaking to a qualified Financial Advisor to discuss the best way you can save for your child.
If you have a question for Andy, go to the myfinances.co.uk Ask the Savings Expert section.
Or for more information on your savings options go to savings at Halifax.