Saving for your child's future. You can trust us to help
University...driving lessons...the deposit on a first house. If you think your 'little angel' is expensive now - just wait until they get older.
Thankfully, help is at hand with the Government's Child Trust Fund (CTF) initiative. The CTF is designed to make it easier for parents to give their children a better financial start in life. Their aim is to give children a 'nest egg' which they can access when they reach 18 years of age - just the time when the costs associated with making their way in the world begin to mount up.
The fund is for the benefit of your child and can only be withdrawn by the child and only after their 18th birthday.
Does your child qualify for a Child Trust Fund?
Any child born on or after 1 September 2002, who is eligible for Child Benefit will receive a voucher worth £250. These vouchers are sent by H M Revenue & Customs directly to the person who claims Child Benefit on the child's behalf. Once you've received your child's voucher, you'll need to open a CTF with a registered provider to pay it in.
How much can you invest?
A CTF doesn't just provide a home for your voucher. It also allows you, your friends and relatives to add additional money at any time - for example at Christmas or birthdays. The most you can pay into the CTF (over and above any voucher or other Government contribution) in any year is £1,200. This makes it easier to give your child an even better financial start in life.
This initial voucher is just the start. The Government plans to make a further contribution into the CTF you've opened when your child reaches seven years of age.
Which kind of Child Trust Fund is right for you?
Skipton Building Society offers you a choice of either a stakeholder or cash Child Trust Fund. We have teamed up with Family Investments to provide our stakeholder CTF account.
Find out the difference between our stakeholder Child Trust Fund and cash Child Trust Fund.
Find out more about Family Investments.
Request an application pack or apply
Read our 'Our Skipton Child Trust Fund Key Features Document' for further information
To apply or to request a stakeholder CTF application pack please click here or call Family Investments on 0800 028 3380†
This CTF is provided by Family Investments. Neither Family Investments or Skipton Building Society is able to give you financial advice on the suitability of this product. If you have any doubts you should seek independent financial advice.
Skipton Building Society offers a stakeholder CTF through Family Investments, a trading name of Family Equity Plan Limited (Co. No. 2208249). Authorised and regulated by the Financial Services Authority (FSA) under registration number 122351. Registered office 16-17 West Street, Brighton, East Sussex BN1 2RL.
†Calls may be recorded for training purposes