Child Trust Fund

Apparently, some 17,000 parents across Northern Ireland have failed to invest the Child Trust Fund scheme vouchers!  Are you one of them?

The Child Trust Fund was launched to encourage parents to save for their children's futures but unfortunately, many parents have not yet taken advantage of the scheme. 

What is the Child Trust Fund?

It’s a long-term savings and investment account for your child(ren).  It was introduced to:

• ensure your child has savings at the age of 18;
• help your child get into the habit of saving;
• teach your child about the benefits of saving; and
• help your child understand personal finance.

How do I know if my child qualifies?

Every child born on or after 1 September 2002 is eligible for the CTF, as long as:

• Child Benefit has been awarded for them;
• they are living in Northern Ireland; and
• they are not subject to immigration controls.

The first set of Child Trust Fund vouchers were issued to parents 1 April 2005.

Did you receive yours?

If you cash in the £250 voucher and add the maximum £100 per month, you could look forward to an investment of up to £35,000 when your child reaches the age of 18.  Don’t forget many lone parents may actually qualify to receive £500 for their child (this is dependent upon your income). 

What are the Age 7 Payments?

The last budget statement (22 March) saw the Chancellor announce an additional payment of £250 when your child reaches 7 year or £500 if you are on a low income.

What should I do next?

During the first 12 months, after receiving the voucher, you may choose where you‘d like to invest the voucher on behalf of your child.  After that time some restrictions are in place and the Child Trust Fund may choose to invest the voucher on your behalf. 

Where can I get more information?

Link into the Child Trust Fund website at: www.ctfhelp.com or alternatively, for more information call Gingerbread's Freephone Advice Helpline on:

The Advice is FREE; So is the call!

Alternatively, you are welcome to drop into our centres in Belfast and Derry to see us. Our addresses for the drop in service together with times of operation are as follows:

If we are unable to see you then we will arrange a mutually convenient time for you to return for an appointment.