The Tax Incentivised Savings Association (TISA) has said that those looking to make an investment into their offspring's future should open a Child Trust Fund .
With My Money Week beginning on June 29th and plans to teach primary school children basic finance underway, now is as good a time as ever to start an investment, according to the organisation.
The government is also introducing a second contribution to the schemes when the child reaches seven, adding to £1,200 tax-free investment already allowed per year.
Tony Vine-Lott, director-general of TISA, added: "Well-supported Child Trust Funds are likely to have a marked influence on the quality of choice available to pupils leaving school, students going on to explore new horizons and young people looking to start their new careers ."
Recent research by financial advice website Moneyfacts found that cash Child Trust Funds have proved to offer a greater return than stakeholder versions of the government investment scheme.
Now is the time to start a Child Trust Fund, says TISA
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Now is the time to start a Child Trust Fund, says TISA
Tue, 16 Jun 2009
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