UK Money News
23rd January 2008
CTFs and other savings 'can complement one another'
Consumers looking to make the most of the help with money available to them might like to consider combining their offspring's child trust fund (CTF) with other forms of savings, it has been suggested.
Independent personal finance adviser AWD Chase de Vere has stated that opening a pension alongside a CTF can provide long-term security - as help with money will be available at different stages in the future.
Anna Bowes, investments manager for AWD Chase de Vere, said: "The child won't be so stoked, because you're going to be saving into money they can't get hold of until they're 55."
However, she pointed out that the sum saved over such a long period could potentially be a "very large sum".
Ms Bowes added that those saving to provide help with money for their offspring need not put funds in a "child" dedicated account - but should rather seek out the best help with finance available.
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