Those
making investments for their offspring's future through the
government's
Child Trust Fund scheme increased the amount of money they were
setting aside in the last quarter.
According to a
Tax Incentivised
Savings Association (TISA) survey of 64 per cent of Child
Trust Fund participants, the average lump sum contribution was
£525 in the past three months, compared to £516 in the previous
quarter.
The number of
Child Trust Funds to receive a lump sum contribution also
increased from 203,174 to 229,485 in the same time.
John Brasington, chairman for TISA, said: It seems that the
message is getting through that family and friends can contribute
to a Child Trust Fund as well as the parents.
The government is to introduce a second payment into Child Trust
Funds later this year for those who have had their seventh
birthday by that point.
Recent research by
financial advice website Moneyfacts found that cash Child Trust
Funds have proved to offer a greater return than
stakeholder versions of the government
investment scheme.
