CTF discussion area

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keziah wrote: »

I'd always thought I was quite savvy with money (though not stocks and shares etc) but my 7 month old's CTF voucher is still in its envelope. I just don't understand it, even after reading everything I can find.

I thought I'd decided on a stakeholder and was leaning to F&C but I've just read their online brochure and there is a minimum monthly investment. Is this the case with ALL stakeholder CTFs?

We don't have any "spare" money and while I don't mind risking £250 that wasn't ours to start with I don't want to risk my own money for something I don't know enough about.

Would I be better off just finding a cash one for now?

We have a CTF with F&C. The minimum monthly amount only applies if you wish to contribute extra to the CTF. You don't need to invest anything other than the voucher, if you don't want to.

Grolsch30

Hi,

I have just been reading through all these threads and been on some websites etc etc but I end up just confusing myself!

Anyway does anyone have any opinions/advice if the below savings CTF is any good. It's a bit out of the way to get to any of there branches but they have the best interest so far.

Hanley Economic BS

Savings CTF rate interest of 8%

Many thanks for your thoughts on this

smeg24

Just received a letter stating that our CTF with nationwide will be moving to Legal & General. Not very happy as I chose nationwide as they have always been fair to us but I don't trust L&G over an 18 year period!

Anyone transferred a CTF to another provider, I know in theory it is possible but I've no idea where to transfer it to!

cloud_dog

smeg24 wrote: »

Anyone transferred a CTF to another provider, I know in theory it is possible but I've no idea where to transfer it to!

Yes, and its easy. Just ask for a CTF transfer form from your existing provider (Nationwide) and when you applt with the new provider there is normally a section for a transfer where you enter existing details.

(had a quick look on NW site but couldn't see a CTF Transfer form you could download)

cloud_dog

SarahNeedle1872

keziah wrote: »

I'd always thought I was quite savvy with money (though not stocks and shares etc) but my 7 month old's CTF voucher is still in its envelope. I just don't understand it, even after reading everything I can find.

I thought I'd decided on a stakeholder and was leaning to F&C but I've just read their online brochure and there is a minimum monthly investment. Is this the case with ALL stakeholder CTFs?

We don't have any "spare" money and while I don't mind risking £250 that wasn't ours to start with I don't want to risk my own money for something I don't know enough about.

Would I be better off just finding a cash one for now?

I have an F&C for DS, but I don't put any extra money into it at all. I think the minimum is for regular contributions only

davidlizard

So if you transfer a CTF from one provider to another, are there any charges involved ?

InnesL

New entry on Quidco £50 when you take out a Child Trust Fund with Engage Mutual.

There is no mention of any minimum investment (although this maybe an oversight, but gotta be worth a shot)

I have invested my voucher and set up a DD for £5 (so the first 10 months should be covered by the cashback).

NB The fund is a stakeholder, so no nasty excessive fees!

Hope this helps somebody.

MamaLis

Am I the only person who feels that a generation of children have been cheated by CTFs. I understand that government needs a cut-off point for free handouts of money, but they also want children to have a good start in life and so surely should be encouraging all parents of all children (irrespective of age) to have an account for children. Why can't they let all children have a CTF but just not have the £250 starter?

I read recently on a rival website that proposals have been suggested by government to allow the savings in CTF's to become or be treated just like ISA's. If this happens then in 15 years time when the funds mature, we will suddenly have a generation of kids with up to £22,000 plus interest, in tax free funds while their older siblings have to start an ISA from scratch. If all kids could have a CTF that converts to an ISA then there would not be such a huge inequality in potential savings - just a gradual difference between years/age.

So what to do instead, since we cannot have a CTF, we are investing a similar amount in a stakeholder pension for the kids, at least that way they won't be able to spend it at 18, the government pays towards some of it, the tax man won't tax the parents if rturns exceed £100 a year and the kids can have a short pensions holiday at crunch times like when buying their first home etc. This option is open to all kids, shame the same thing can't be said about tax free savings in CTFs.

jtotheb

My wife and I have just had twin boys and received our CTF vouchers last week. How does this sound as an idea for the investment?

Obviously I appreciate that it is their money but would it be a good idea to invest one in a more riskier shares account and the other in a stakeholder account? We could insist that they split the resulting funds 50/50 when they reach 18?

Does that sound a good idea? It would spread the risk a bit more...

leon_g_2

no, i dont think thats a good idea. could cause arguments when one is worth more than the other. i would invest in same for both.