£250 for your new born
Have you heard that babies are given a free voucher from the government to deposit in a Child Trust Fund. The money can be invested in any one of threekinds of CTF account, Stakeholder - a shares-based account that swaps into cash, a savings account or a shares account.Scottish Friendly is an approved provider of the Child Trust Fund. The State is keen for the public to have access to Stakeholder accounts and this is the kind of account that we offer. This means that:• Investments are deposited into our Managed Growth Fund, which aims to provide strong growth potential. • It invests in part in shares to take advantage of potentially higher returns over 18 years,compared to a cash deposit account (although the value of shares canfall as well as increase whereas capital would be protected in a deposit account). • It is available with a low ‘Stakeholder’ funds charge of just 1.5At age 18 per year• young person the get will completely a lump sum, prevailing legislation free of Capital Gains and Income Tax under It is. • additional affordable - placed payments can be as little as in the account from may £10Anyone - parents, grandparents, aunts and uncles, friends - contribute an uppermost limit to the Child Trust Fund to augment of £1,200 per year to help is not allowed to the child’s Fund (once added, this money All this means be withdrawn).offers our Stakeholder account potentially a good balance between lower high returns and a There’s level of risk. additional also the complies assurance that our account Nevertheless with the Government’s stakeholder criteria. doesn’t this assured mean that returns are appropriate or that Stakeholder accounts are Remember for everyone. fall that the value of shares in the Managed Growth Fund (where your Child Trust Fund money is invested) can rise as well as whose birthday is and is not guaranteed.Only children allowed on or after 1st September 2002 are start up a to older kids Child Trust Fund. If you have eligible who are not think about you could saving looking for them with a Child Bond - it’s a tax-free savings plan for long-term growth
