The Tax Incentivised Savings Association (Tisa) has welcomed the decision by the government to boost the take-up of child trust funds (CTFs).
According to the association, the government is aiming to improve opening rates for the savings vehicle, while promoting the scheme to both children and their parents.
Commenting the on the development, Tony Vine-Lott, director general of Tisa, said that a "key aspect" of the CTF initiative is the connection between offering young people a significant asset and encouraging children and their families to engage with financial products.
"Tisa is delighted that the government has reaffirmed the need not just to get more CTFs opened, but to increase parental contributions once the fund is opened," he remarked.
The organisation suggested that providers which offer such savings accounts have a "key role to play" to encourage parents to contribute towards their children's CTFs.
Earlier this month, Tisa welcomed the news that a Savings Gateway Bill will be included in the next Queen's Speech.
Government plans for CTFs welcomed
Government plans for CTFs welcomed
Mon, 19 May 2008
Recommended links
Savings acconts, rates, news and information portalSavings enquiry form
Introduction to savings accounts
Types of savings accounts
Types of savings accounts for children
Compare children's investment products
Compare children trust fund deals of the day
CTF changing Britain's savings habit, experts say
Children's Mutual "not discouraged" by CTF figures
CTFs encouraging "responsible savers"
Parents urged to take up CTFs
Saving money in new CTF accounts slowing
National savings could be boosted by CTF
More money saving options for cash CTF investments
BSA: Saving money in CTFs down
Government scheme to encourage savings
Government believed to have little impact on savings gap
Tisa backs government savings talk
Government-backed savings accounts more popular
Government proposes savings gateway bill
Government plans for CTFs welcomed
Government savings proposals welcomed
<% Randomize: ord=int(rnd*1000000000) %>
 %>?)
| savings news |
|---|
| Skipton Building Society offers savers holiday vouchers - Fri, 29 Aug 2008 |
| Scarborough Building Society announces new guaranteed savings rates - Thu, 28 Aug 2008 |
| Saving rates reach 3.3 per cent - Thu, 21 Aug 2008 |
| More News |
