The Child Trust Fund is part of the Government's strategy for saving and asset ownership. Child Trust Fund accounts have been available since 6 April 2005 for eligible children. Children who qualify will receive a voucher to start their account. The account belongs to the child and can't be touched until they turn 18, so that children have some money behind them to start their adult life.
The Child Trust Fund (CTF) is a long-term savings and investment account for children. The Government makes payments to children through this account to help build up a useful stock of assets for when they reach the age of 18.The CTF accounts will help to strengthen the savings habit of future generations, spread the benefits of assets ownership to all, educate people in the need for savings and give young people a basic understanding of financial products.
Further information is available from:
HM Revenue & Customs, Child Trust Fund| on Tel: 0845 302 1470.