Pendle Children Missing Out on Savings

Child Trust Fund (CTF) is a savings and investment account for children. Children born from 1 September 2002 will receive a £250 voucher to start their account. The account belongs to the child and can't be touched until they turn 18, so that children have some money behind them to start their adult life.

Since the Fund was introduced four years ago, 6,752 vouchers have been issued in Pendle and of these 68.6% have been used by parents to open accounts. But this compares with a national average of 74.0%. I want to see more Pendle parents opening accounts and making the most of the opportunities the Child Trust Fund offers.

Vouchers are sent out automatically if you are receiving Child Benefit. Parents can find out how to open an account by visiting www.childtrustfund.gov.uk.