Inland Revenue is launching a campaign this week to get parents to start saving money for their children's future.
Of the original group of parents that received Child Trust Fund vouchers earlier this year, some 850,000 have failed to invest.
These parents will receive a letter from Inland Revenue this week, with a tool kit to explain the scheme to parents and help them choose a savings vehicle.
Family Investments has so far helped with the investment of 200,000 Child Trust Fund vouchers in registered accounts.
The provider estimated that parents who fail to start saving money with their vouchers could be losing out on growth of some £544 million.
John Reeve, chief executive of Family Investments, welcomed the "sensible" move to write to individual parent.
"With time running out, parents need to act now and make a choice before their vouchers expire and the decision is taken from them," Mr Reeve warned.
Family Investments offers a Stakeholder Child Trust Fund product with funds managed by New Star Asset Management.
Parents who want to start saving money through Family Investments can do so at over 18,000 high street locations including the Post Office, Bradford & Bingley, Yorkshire Bank and the Early Learning Centre.
Start saving money, parents urged
Start saving money, parents urged
Tue, 18 Oct 2005
Recommended links
How to save money in 2005 - Channel 4 SpecialSavings and Investments for Children
Childrens Savings Accounts
Child Trust Funds
Post Office Savings and Investments
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