Child trust fund take-up reaches 75% by Finance News Bulletin

Published: 20/12/07

More than three quarters of parents in the UK have opened accounts to invest their government-sponsored youngster trust funds on behalf of their childrenThe scheme provides a minimum £250 coupon for every child in the state born after September 2002, to be invested by their parents until it matures when they reach 18A further £250 will be issued when the child reaches seven The funds can be topped up with contributions of up to £1,200 every year tax-free

"I am satisfied to announce that more than 16 million child trust finance accounts have been opened so far," supposed Ed Balls, economic secretary to the Treasury"But there is more work to do to reach new parents and to encourage the active participation of those parents whose child has an account"We will be responsibility further promotional work over the summer and autumn in the run up to the launch of the first annual report in September

"A sluggish initial take up led to warnings that parents unused to investment were nervous about the blame of finding the best rate economy account for their children's futureMoneyExpert incomplete is authorised and regulated by the Financial Services Authority (FSA register No 301654) The Financial Services Authority does not regulate some forms of mortgage contract, credit cards, individual

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