Child trust funds set to become even more popular, expert claims

Mon, 21 Apr 2008

Changes to the way that child trust funds operate are set to make them even more popular, one expert predicts.

David White, chief executive officer of the Children's Mutual, explained that as parents will no longer need a voucher to open child trust funds, it will be easier to open an account .

In the past, around fiver per cent of parents had applied to open a child trust fund, but never got to sending off their voucher, meaning this account is never opened and this would now stop, he stated.

"It's less for the parents to have to think about, and it means that the money's going to get in the kids' accounts earlier, so it's going to start working for their future earlier," he said.

The fact that ethical and Islamic child trust funds are now available means that there is even more choice for parents than in the past, he concluded.

Children eligible for a child trust fund will receive up to £500 from the government for their parents to invest on their behalf.
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