According to figures from Nationwide, less than half of all parents whose children are eligible for the child trust fund have actually opened one. The Government has issued almost 2 million vouchers, but nearly 1 million remain un-invested.
Research has found that almost a quarter of those who haven't opened a fund for their child, have lost the vouchers! Parents, who do not invest the voucher within a year, have money invested on their child's behalf in a stakeholder child trust fund.
Our view
As previously stated on this site, CTF - The Child Trust Fund is an utter waste of tax payers money. Hospitals, schools and services would have been a better home not languishing in some bank or building society for 18 years! Education is the only way to get people to save.
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