Commitment to CTF
The win is a recognition of Family Investments’ leadership in the CTF field and commitment to the product despite the Government’s decision to remove CTF vouchers from the end of this year.
Family Investments is committed to managing its existing 1.2 million CTF accounts until every child reaches 18 and will support the CTF by actively seeking new business until the final voucher expires. Family Investments estimates around 600,000 CTF vouchers will be in circulation between now and the end of 2011 and will continue to offer parents a long-term home for their child savings.
Family Investments is actively working with the Government, charities and the financial services industry to help shape the children’s savings landscape and fill the gap left by the CTF. The CTF has helped embed a savings culture and Family Investments is proposing an alternative product that helps parents save to meet the big financial commitments their children will face, such as the cost of higher education or a deposit for a first home.
Family Investments is actively working with the Government, charities and the financial services industry to help shape the children’s savings landscape.
John Reeve, Chief Executive of Family Investments said: “This award reflects Family Investments’ commitment to the Child Trust Fund, and children’s savings generally. We will continue to offer savings solutions to parents even if their child does not qualify for the CTF. However we will also be working hard to persuade the Government to ensure the whole of the next generation is given encouragement to accumulate savings not just a privileged minority.
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