Child Trust Fund accounts
On the 25 May 2010 the government announced a number of changes to the way Child Trust Funds (CTF) will work in the future. These changes affect nearly all existing CTF accounts, as well as parents who haven't used their CTF vouchers and those expecting a baby.
Unfortunately, due to this announcement we no longer offer CTF accounts. Existing accounts will remain open, but will not receive any further government contributions. We know that you may have some questions about the changes, so please contact the Government Child Trust Fund helpline on 0845 302 1470* or visit their website.
What were the changes to CTF?
- Children born after the 2nd January 2011 are no longer eligible for a CTF and will not receive a voucher from the government.
- Existing accounts remain open but will not receive any further government contributions.
- CTF vouchers already issued will continue to be valid until their expiry date.
Will I (or my child) now be able to withdraw the money invested in my child's CTF?
There are no plans to change the current withdrawal arrangements. Withdrawals are not permitted until the child is 18.
Will the government withdraw the money it has put into my child's CTF account?
No, the money will remain invested.
What shall I do if I still have a voucher or receive a voucher?
If you already have a voucher or receive a voucher, you will still be able to open a Child Trust Fund account for your child up to the expiry date on the voucher. For more information visit www.childtrustfund.gov.uk.
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