child trust fund


Also found in: Acronyms, Wikipedia.

child trust fund

money paid by the government for the benefit of children in the future. The terms of a child trust fund must secure that it is held in the name of a child, secure that the child is beneficially entitled to the investments under it, secure that all income and gains arising on investments under it constitute investments under it, prevent withdrawals from it except as permitted by regulations, and provide that instructions may be given to the account provider with respect to its management only by the person who has the authority to manage it. Parents may pay money into it and it benefits from tax advantages.
References in periodicals archive ?
Alex Cunningham, who represents Stockton North, has advised parents to check if their children benefit from a Child Trust Fund.
THE Child Trust Fund celebrated its 16th birthday at the weekend and there's currently PS10bn being held in these accounts.
THE Child Trust Fund celebrated its 16th birthday at the weekend, and there's currently PS10bn being held in these accounts.
Government vouchers from PS50 to PS250, depending on when a child was born, were given to parents to steve Ferrari, managing director of Child Trust Funds at OneFamily, said: "In September alone, over 75,000 child trust fund children will turn 16.
Some teens can now manage their CTF themselves THE Child Trust Fund celebrated its 16th birthday at the weekend and there's currently PS10bn being held in these accounts.
The Child Trust Fund celebrates its 16th birthday on Saturday and there's currently PS10billion being held in these accounts.
Since April 6, every child under 18 has a brand new Junior ISA (JISA) or Child Trust Fund (CTF) allowance.
Now, junior ISAs often have better rates of interest, with the best available in November at six per cent, compared with the best for a child trust fund of three per cent.
Parents and other family members and friends could also invest money in a child trust fund on the child s behalf.
The treasury stated that the best interest rate for a Child Trust Fund was 3%, while the best interest rate for a Junior ISA was 6%, as of 19 November.
The Government has designed the new tax-friendly savings account for children to replace the Child Trust Fund (CTF).
Full browser ?