Child trust fund, is it still worth saving in them?

Bbambi

Each of the children has got a ctf which we have always paid the full £1200 in each yr, so at present there is roughly £8000 & £6000 in them.

Since they have stopped & no extras are being paid in by the gov, does anyone think they are still worth saving into? They are with the Nationwide and I'm sure the rate is only 1%.

Would I be best to start over again with just a higher paying childrens saving account or stay with it, as I can't withdraw any of the money from the ctf.

Can anyone recommend any kids accounts?

Many thanks

Reaper

Bbambi wrote: »

does anyone think they are still worth saving into?

I don't think so. Now there are no longer any new ones being opened there is little competition and so savings rates are likely to stay low.

Investment CTFs are a different matter however. Have you considered switching to them?

Failing that have a read of the Child Savings article on this web site.