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Millions of British teens to get access to Child Trust Funds for the first time

3 mins read

The FINANCIAL — Around 6.3 million child trust funds have been set up by the state since their launch. Initial grants were ranging from £250 for children in well-off families to £500 for those in low-income households. Children born from September 2002 were given vouchers by the government to invest for the future. People turning 18 from now will be able to withdraw money from CTF for the first time. The savings pots could now be worth more than £1,000, or more if parents added contributions.  A Child Trust Fund is a special type of children’s savings account which was made…

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Millions of British teens to get access to Child Trust Funds for the first time

3 mins read

The FINANCIAL — Around 6.3 million child trust funds have been set up by the state since their launch. Initial grants were ranging from £250 for children in well-off families to £500 for those in low-income households. Children born from September 2002 were given vouchers by the government to invest for the future. People turning 18…