Special Speech

Heard about the Child Trust Fund? remarkably few appear to have heard of the fact that all infants receive a free £250 voucher from the government to invest in a Child Trust Fund. This voucher can be invested in any one of three types of CTF account, Stakeholder - a shares-based account thatswitches into cash, a savings account or a shares account. It is a superb chance to prepare for the future needs of a child

Scottish Friendly is an authorised provider of the Child Trust Fund The Government is eager for the public to have access to Stakeholder accounts and this is the form of account that we are catering for. This means that:

Investments go into Scottish Friendly’s Managed Growth Fund, which seeks to provide strong growth potential

An investment is made in part in shares to get the benefit of potentially higher returns over 18 years,compared to a cash deposit account (although the value of shares can
fall as well as go up whereas capital would be protected in a deposit account)

It comes with a low ‘Stakeholder’ funds charge of just 1.5 percent per year

At age 18 the child will receive a lump sum, entirely free of Capital Gains and Income Tax under current law

It’s affordable - additional payments can be put in the account from only £10

An attractive feature of the Child Trust Fund is that anyone - parents, grandparents, aunts and uncles, friends - may add to the Fund to a ceiling of £1,200 per year to help augment the child’s Fund (once added, this money is not allowed to be withdrawn).

In a nutshell our Stakeholder account offers a good balance between possible high returns and a reduced level of risk. There’s also the extra assurance that our account is in accordance with with the Government’s stakeholder criteria. Nevertheless this does not mean that returns are guaranteed or that Stakeholder accounts are appropriate for everyone. Bear in mind that the value of shares in the Managed Growth Fund (where your Child Trust Fund money is held) can fall as well as increase and is not guaranteed.

Only children whose birthday is on or after 1st September 2002 are authorised to start up a Child Trust Fund. If you have children born before the above-mentioned date who are not eligible you could consider saving for them with a Child Bond - it’s a tax-free savings plan which was created for long-term growth.

It is undoubtedly the case that saving for your son is a rewarding means of preparing for the future.

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About the author:

Mike Yeager
Publisher
http://www.my-lawn-mower-4me.com/