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Over 75 per cent of first CTFs invested

Over 75 per cent of the first people to receive Child Trust Funds have invested them, according to figures for HM Revenue & Customs.
The figures also show two thirds of all parents who have received the vouchers have invested them.
Pima director general Tony Vine-Lott says: “These figures from HMRC are very positive. By carefully designating investments, parents and guardians of CTF-holders are choosing to play an active role in their child’s future.”
Family investments chief executive John Reeve says: “While the scheme is clearly experiencing success with 1.8m CTFs currently in operation and over £600m already saved, the focus now is on encouraging parents to use their child’s CTF as efficiently as possible. Regular top ups are essential for CTFs to deliver a healthy nest egg to children when they reach eighteen years old.”


Opposition doubt reforms will raise saving

Opposition parties say the Government has failed to prove its pension reforms will raise the nation’s savings levels and claim the continuation of means-testing will discourage savers. Responding to the White Paper in Parliament, Tory Shadow Work and Pensions Secretary Philip Hammond said it was far from clear how the proposals would improve savings habits. […]

A case of wishful thinking

The Diary wanted to be the first to congratulate Taxationweb for winning the prestigious Best Tax Website at the LexisNexis Butterworths Taxation Awards after receiving an email explaining co-founder Martino Matijevic’s “great sense of achievement” after collecting the award at the Park Lane, Hilton. But just as the number was being dialled, another email came […]

Partnership Home Loans live on Exweb’s equity release service

Partnership Home Loans has become the 15th provider to join The Exchange’s online equity release quotation service on its Exweb portal.The provider is a sister company of Partnership Assurance offering a medically written impaired-life equity release plan.Partnership Home loans chief financial officer Steve Groves says: “We anticipate our new product having a significant positive impact […]


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