Mummy, can I have a savings account?

investing for children

It's not just the Child Trust Fund that aims to encourage long-term saving for children: a whole range of products exist that can do the job - ranging from deposit accounts to global trusts and bonds

Escalating school fees, increased participation in further education, the removal of grants resulting in high levels of student debt, and the rising price of property have given saving for your children a level of priority unthinkable even a decade ago. The government hopes to encourage long-term saving for children with the introduction of the Child Trust Fund (CTF) in April 2005. The CTF is a tax-free savings and investment account for children born on or after 1 September, 2002. The government will give children a modest sum at birth and again on their seventh birthday which can be topp...