600,000 CTF Vouchers Uncashed
Latest figures show that at least 600,000 Child Trust Fund vouchers have still to be invested
17th January 2006
Child trust fund vouchers worth at least £150m are still to be invested, according to new government figures.
CTF vouchers are issued to the parents of every child born since September 2002, and are intended to be invested in child trust fund or 'baby bond' accounts which will mature when the child reaches 18 - they cannot be deposited in a normal account.
Around 2 million vouchers for at least £250 each were sent out over the last year, but as yet, 600,000 vouchers have still not been used.
If vouchers are still unused 12 months after they were issued, then they will be cancelled and their value invested on the child's behalf by the government.
Read More: BBC: Low take-up for child trust funds
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