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Important notice for OneFamily Stakeholder Child Trust Fund (CTF) customers – the removal of lifestyling

When CTFs were introduced by the Government in 2005 one of the requirements of the Stakeholder CTF account was to include a lifestyling facility. This meant that from age 13 your child’s money in their CTF account would be gradually moved to lower risk investments such as bonds or cash-based funds. The result of this is that whilst your child's money may not benefit if the stock market is performing well, it is protected from stock market losses as they approach 18. In 2015 the Government increased the age at which lifestyling needs to start from 13 to 15 years of age.

During 2017, the Government made another change by removing the requirement for lifestyling. The Government considers that developments in the market for tax-efficient savings for children, including the increased choice available to account holders, mean that this requirement is no longer necessary to ensure children have access to savings products that meet their needs.

In addition, the Government has stated its intention to allow CTFs to roll into a tax incentivised savings product such as an Adult ISA from your child’s 18th birthday. It believes that this will encourage a savings habit amongst young people.

OneFamily agrees with the Government and has chosen not to adopt lifestyling and therefore your child’s account will continue to be invested in the same way it always has.

If, however, you want lifestyling, your child’s CTF can be transferred to another CTF provider who offers this feature at any time free of charge.


Any questions?

Should you want any more information on this change, you can call us on 0344 8 920 920* or on +44 1273 062 512* from outside the UK and one of our UK-based team will be happy to help. We’ll be here from 9am to 7pm Monday to Friday and 9am to 1pm on Saturdays.