The Children’s Mutual wins best Child Trust Fund Provider at the 2008 Investment Life & Pensions Moneyfacts Awards
Local Tunbridge Wells company and nationally recognised home of the child trust fund, The Children’s Mutual, has been named Best Child Trust Fund Provider at the prestigious 2008 Investment Life & Pensions Moneyfacts Awards in London (26 September 2008).
Over 350 industry professionals from the leading financial institutions and industry bodies gathered at a special awards luncheon hosted by actor, author and broadcaster, Gyles Brandreth. Twenty-nine awards were presented in total to recognise companies that have consistently offered the most competitive products, the best levels of service and shown the greatest innovation during the last twelve months.
Marketing Director, Tony Anderson, who collected the award on behalf of The Children’s Mutual said: “Naturally, we are always pleased to see our efforts on behalf of our customers recognised. It is particularly rewarding to receive The Moneyfacts Award for Best Child Trust Fund Provider as this is an accolade based on expert analysis of our performance and service but also voted for by independent financial advisers who deal with the public – our customers – on a daily basis. We are delighted to be bringing this award back to the home of the child trust fund yet again and will strive to continue to lead the market and exceed expectations.”
The Moneyfacts Award for Best Child Trust Fund Provider was launched in 2006 and has been won by The Children’s Mutual that year and each year since.
The Children’s Mutual
- The Children’s Mutual is the only UK company that specialises exclusively in savings for children.
- The Children’s Mutual is the choice of over 1 in 5 parents for their child’s Child Trust Fund.
- The Children’s Mutual, as experts in savings for children, made a significant contribution to the Government’s Child Trust Fund consultation process.
- The Children’s Mutual is widely recognised by the business community and press as the industry expert.
- This expertise has led several financial institutions and family-focused high street retailers to choose The Children’s Mutual’s as their CTF partner.
The Child Trust Fund
- The Child Trust Fund is designed to provide a tax efficient, long term savings vehicle for all young children.
- It is anticipated that a fully funded Child Trust Fund may be worth £37,000 upon maturity.
- Each newborn child (born on or after 1 September 2002), receives a voucher worth £250 (£500 for low income families) from the Government when their parents register for Child Benefit.
- This must be used to open an account – a Child Trust Fund (CTF) – on the child’s behalf.
- The Government’s recommended option is a Stakeholder Child Trust Fund Account. All Stakeholder CTF accounts are subject to strict guidelines governing investment type and charges.
- Parents, family and friends can all then add to this CTF account up to a maximum value of £1,200 each year.
- The Government will make a second contribution or £250 (£500 for low income families) when the child is seven and is considering a third in the child’s teenage years.
- The CTF provider manages the account until it matures and become available to the child when they are 18.#
 This projection is based on £100 a month being invested for 18 years in a stakeholder Child Trust Fund account, alongside the Government’s initial £250 voucher and another £250 voucher at age 7, with yearly growth at the FSA mid-rate of 7% and charges of 1.5% of the account’s value each year. This figure is not guaranteed, shares can go down as well as up and the eventual lump sum could be more or less than indicated.