Engage Mutual Assurance has announced the launch of a new child trust fund savings alternative designed to enable parents to make provisions for their children's future.
According to the firm, the package is designed to suit people who missed the deadline for child trust funds but still wish to make savings towards their youngsters' adulthood.
With Junior Easy Save, parents are able to deposit up to £25 each month tax-free into the account and a guaranteed minimum payout will be made provided the parents have made all the necessary contributions to the savings vehicle.
Karl Elliott, the marketing director for Engage Mutual Assurance, commented: "Parents who set up savings schemes for their children are not only investing in their future financially, but also helping to educate them in the importance of saving ."
He added that the company had launched the savings vehicle in direct response to consumer demand, as many parents are worried about having missed the deadline for child trust funds.
Abbey recently celebrated the launch of Sputnik 1 with a savings account designed specifically for people over the age of 50.
Engage offers new child savings option
Engage offers new child savings option
Thu, 04 Oct 2007
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