In the most recent survey, ctf subscriptions rose to £21.86 per month from £21.20 for the same period in 2007. Average lump subscriptions were also up £84 on the year to £488.
112,335 new accounts were opened during the quarter and the number of accounts with active monthly direct debit subscriptions rose by 27,198.
Tisa director general, Tony Vine-Lott says: “Bearing in mind the financial ‘squeeze’ that is affecting so many families at the moment, the continuing increase in the level of regular savings into a ctf is particularly encouraging. However while the number of ctfs with a direct debit subscription now exceeds half a million, the majority of accounts still do not receive any form of top-up. I would like to encourage more parents to commit to saving a regular amount into a ctf, obviously at whatever level they can best afford.”