What is it?

• The Child Trust Fund (CTF) is a recent and long-term saving and investment account for children. The scheme is being run by The Government through the Child Benefit system.

Who's eligible?

• Children born on or after 1 Sep 2002 are eligible if child benefit has been awarded for them and they live in the UK.

How do we claim?

• No claim is necessary. Once Child Benefit has been awarded and eligibility for CTF accepted, a voucher will be sent to the person receiving Child Benefit.

But my child is in care

• The Inland Revenue are concerned that there are a number of children who may have become looked-after before a claim for Child Benefit was made. They want to be sure that a CTF account is opened for those children as well
  
  From 11 May 2005 and monthly after that, Devon Social Services will provide details of all children who were first looked-after on 5th of the month and who were born on or after 1 Sep 2002. The Inland Revenue will make similar checks.

How much will my child receive?

• There is one voucher which represents the £250 contribution from the Government. Parents, family, friends and the child will be able to contribute up to a total of £1200 a year to a CTF account.

When will the Voucher arrive?

Is there any extra money for children from low income families?

• An additional £250 will be paid into the CTF accounts of children in families eligible for full Child Tax Credit with household income of £13,480 (for 2004 / 05) or below.

What needs to happen next?

• The voucher is the only way to open a CTF account for a child. Opening a CTF account is easy. All a parent or carer needs to open an account for a child is the voucher sent out by the Inland Revenue,

Where can I open an account?

• There are more than 70 different places where you can find out about or open a CTF account for your child. It's a good idea to look at what different CTF accounts offer before choosing the right one for your child.

Will the money be safe?

• CTF providers have been approved by the Inland Revenue to provide Child Trust Fund accounts. Money is not put into just one company, as a child could lose out if that company does badly. Instead, it is invested in a number of companies to reduce the risk.

Will I or my child lose out on other benefits?

• Investments held in a CTF account are exempt from UK tax and ignored for the purpose of calculating family benefits during the time that the CTF is open.

Who can get the money out?

• The money in the account belongs to the child. Only the young adult can take out the money when he or she reaches 18. There is no access to the money until then except where a child dies or has a terminal illness

Where can I find out more ?

• Web: www.childtrustfund.gov.uk
• Tel. our helpline between the hours of 8am and 8pm:  
  0845 302 1470
• Post:
  
  The Child Trust Fund Office
  Waterview Park
  Mandarin Way
  Washington
  NE38 8QG
  
• e-mail:  for general enquiries about the Child Trust Fund only.
  childtrustfundoffice@ir.gsi.gov.uk

Electronic versions of the Child Trust Fund Information Pack and factsheets are available in other languages.