Engage Mutual Assurance Presses Government To Extend The Child Trust Fund Initiative

Posted in: Products Last updated: 05 Jul 2005

Andrew Haigh, Chief Executive at Engage Mutual Assurance, today urged the Government to make its Child Trust Fund (CTF) initiative available to millions more children.

Andrew Haigh, Chief Executive of Engage Mutual Assurance meets Rt Hon David Blunkett MP who attended the IPPR conference on the ‘The Asset State: the future of welfare’ at Interbrand in The Strand. The event was sponsored by Engage Mutual Assurance.

Speaking after the London conference about the future of welfare in the UK, Mr Haigh appealed to the Government for the date of eligibility for CTF (currently September 1, 2002), to be rolled back as far as national coffers would allow – thereby boosting the savings of potentially millions more youngsters.

In support of his appeal Andrew Haigh said: “We have seen a strong take up of Child Trust Funds at Engage, and in particular through our retail partner ASDA. However, our CTF customers want to be able to save for their older children too.

“We have strong evidence to suggest that CTFs are indeed encouraging additional saving – with more than 50% of our applicants setting up regular Direct Debits to pay into their child’s account.

“We would very much welcome the opportunity to share with the Treasury our experience to date and work with them to identify ways which develop this thinking further, such as extending the qualifying date for the CTF initiative beyond September 1, 2002.”

Engage offers the CTF and an alternative child savings plan which caters for children who are not eligible to receive the CTF as well as those who are.