The nation's parents need to save for their children's future, and now the Government has come up with a way to help them do it. From mid-January, parents of children aged up to 28 months will receive vouchers worth 250 as part of its new Child Trust Fund Scheme. The aim is to ensure that when today's toddlers reach the age of 18 they have a financial asset behind them.
Children born since September 2002 are eligible for a Child Trust Fund account if child benefit has been awarded for them and they live in the UK.
The savings and investment account scheme, which was first outlined by Chancellor Gordon Brown in his Budget in 2003, will get underway next month with a major press and broadcasting campaign. It will come into effect from the start of the next tax year in April 2005. Eligible parents will be sent Child Trust Fund information packs along with their vouchers.
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