CTF Provider Calls for Time Limit Cut
A leading CTF provider says 12 months is too long to wait for investing vouchers
24th February 2006
One of the country's largest child trust fund (CTF) providers has called for the time limit on investing vouchers to be cut from 12 months to 3 months.
Family Investments, who run CTF accounts both in their own name and in partnership with major high street brands, say that children are missing out while their parents delay investing the vouchers.
If the voucher isn't used within 12 months, it will be cancelled and the investment will be made by the governemnt on the child's behalf. A cut of this time limit to 3 months would both concentrate parents' minds, and reduce the amount of interest lost by children whose parents fail to invest.
Various reports suggest that up to 25% of vouchers issued are not invested by parents.
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