Contributing to a child trust fund savings account is the perfect gift this Christmas, an expert has claimed.
Additionally, contributing to the savings accounts will help to boost the recipient's future, while cutting down on Christmas shopping, claims Co-operative Insurance.
Research from the company found that 62 per cent of parents with child trust fund savings accounts would like their friends and family to contribute to their youngster's future.
Zack Hocking, head of savings and investments at Co-operative Insurance, commented: "A contribution to a young child's CTF [child trust fund] account is an ideal Christmas gift and is a great alternative to the hassle of the shopping, wrapping and the usual clutter of traditional gifts."
He added that the money could be a vital boost for many youngsters planning to find a mortgage or pay tuition fees when they become adults.
The Children's Mutual recently praised the government's decision to allow child trust funds to be rolled over into individual savings accounts when the child turns 18, lauding the move as "great news".
Child savings boost a perfect Xmas gift, expert claims
Child savings boost a perfect Xmas gift, expert claims
Thu, 16 Nov 2006
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