Child Trust Fund

At least 250 for your child!

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The Child Trust Fund is an exciting new initiative from the Government to give children a head start when they reach 18. Every child born from 1 September, 2002 onwards, eligible for Child Benefit, will qualify for an initial payment of at least £250.

A voucher for the appropriate amount will be sent to the child's mother or registered contact, and this must be used to open a Child Trust Fund in the child's name. In addition, the Government will make a further donation to the Fund when your child reaches 7 years old. This money is invested and no withdrawals can be taken from the Fund until the child reaches age 18.

The Society will be offering Child Trust Funds through The Children's Mutual.

Take full advantage!

You can simply leave the money provided by the Government and leave it to build up a tax-free Fund for your child at age 18. Your child can then withdraw the money and use it for any purpose, such as further education or as a deposit on a new car or first home.

However, to make the most of the Fund and give your child a better start in life, you can make additional investments to the fund - up to an overall total of 1,200 each year. It doesn't matter whether or not you are a parent, grandparent, family member or friend, you can make a contribution - as long as the overall annual total of 1,200 is not exceeded.

Why Children's Mutual?

Only a small number of providers will be able to offer the Child Trust Fund. The Children's Mutual specialise purely in providing investment plans for children and are recognised experts in their field. Like us, they are a mutual organisation, looking after members, not external shareholders. Who better, then, to choose as a provider of the Child Trust Fund?

The Society is authorised and regulated by the Financial Services Authority. The Society is a Member of the Building Societies Association. Shares and Deposits in the Society are Trustee Investments.