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Ctf contributions are on the increase says Tisa

Child trust funds contribution levels are increasing according to the sixth quarterly survey from the Tax incentivised savings association.

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.”

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