Money responds to nurture too

The introduction of the Child Trust Fund (CTF) was a high-profile exercise aimed at encouraging pare...

The introduction of the Child Trust Fund (CTF) was a high-profile exercise aimed at encouraging parents to build up a lump sum for their offspring by age 18. Launched in spring 2005, the CTF sees vouchers dispatched to every child born in the UK after 1 September 2002, in most cases worth £250, rising to £500 for families with annual incomes below £13,000. Parents can choose from a range of CTF qualifying products such as savings accounts, stakeholder accounts and some equity-linked vehicles. Family and friends can make further contributions to the fund to a maximum £1,200 per annum. The fu...