I've just opened a stakeholder child trust fund account with the Police Mutual for my younger child. The voucher is worth £268 and I'm going to pay in £50 a month. My older child did not qualify for a CTF voucher. At the moment I pay £50 a month into his Nationwide savings account, but I would like to change this to something with higher potential return when he's 18, similar to his sister's stakeholder account. What would you recommend?
Thanks in advance,
- guy
Is it true you can't set up a CTF for a child that didn't qualify for the voucher.
Yes, it is true, I just checked on the gov's CTF website.
- guy
You can invest in anything you like if you use a Bare Trust.
An Investment Trust, such as F&C, Caledonia or British Empire Securities that offer a monthly savings plan is possibly a good idea..
I'd echo this. The savings schemes of investment trusts like British Empire Securities, RIT Capital partners and so forth have low charges and can be set up in trust for a child by adding the child's initials to the application form.
Thom
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