In other words, your fund could benefit from potential stock market growth, and could be negatively affected from potential stock market losses.
How can payments be made into my fund?
Your family and friends can contribute up to £9,000 in to your CTF in the current tax year. Subscriptions can be one-off or monthly and the minimum payment for either is £10.
If you wish for a Direct Debit to be set up, please contact us at email@example.com and we will guide you through the simple process.
Can these payments be changed?
Yes, if there is a regular payment already set up, it can be increased, decreased or cancelled at any time.
How is my CTF value calculated?
The value of your CTF is the total number of units held by you multiplied by the unit price applicable on the date of calculation.
In other words, the return is based on the price of the units when they are cashed in on your 18th birthday.
Can my CTF be transferred from another provider to a TFS ISA?
Yes, it will soon be possible to transfer your CTF when it matures to a TFS ISA and there would be no charge by TFS for this service, but please do check with your current CTF provider as well, in case they have any charges.
If you are interested in transferring your CTF when it matures into a TFS ISA please email us at firstname.lastname@example.org to request a Personal Information Form. Once you have submitted it to us, we will contact you nearer the time of your CTF maturity.
How do I know my fund’s worth?
Statements are being sent out to your Registered Contact on your 5th, 10th and 15th birthdays. You can obtain your fund’s current value by emailing us at email@example.com.
What happens when I turn 18?
On your 18th birthday your CTF will ‘mature’. This means that the money in your CTF account will be made available to you tax-free.
You can then decide what you wish to do with the money in your fund. Here are your options:
- To re-invest all of your matured Child Trust Fund in a Transport Friendly Society (TFS) Individual Savings Account (ISA);
- To re-invest the maturity amount with another provider;
- To have the maturity amount paid into your bank account;
- To have part of the maturity amount paid into your bank account and to re-invest the balance of the maturity amount in a TFS ISA.
We will get in touch with your parent/guardian 3 months prior to your 18th birthday to obtain your up to date details. Then 1 month prior to your 18th birthday we will contact you to let you know your options again.