Child trust fund rules have been changed to make information for parents clearer. These new rules came into effect on the 1st December. They ensure that consumers know exactly what type of product they are subscribing to, and comparisons between the different funds. A risk warning by the FSA was also included, stating that once opened, no cash can be taken out by anyone except the child, once 18. The government are at present, also considering giving an extra £250 when the child reaches 7.
Our view
Trivial but necessary, many people will still not read it.