Child Trust Fund Top Ups
A Christmas present that will last
Instead of buying another toy or gadget for your child, why not this year top up their Child Trust Fund. For any parent, knowing your child has a secure future is absolutely priceless so give them a present to help toward the next steps in their life.
Friends and family can also top up a Child Trust Fund, so why not get everyone involved! Their contribution will help put some solid building blocks in place so that your little ones can grow and flourish. When they turn 18 they will have a savings pot they can put towards the next step in their life.
We all dream about giving our children the best start in life – and that includes financially. It’s a great feeling knowing that they have savings growing as they do. Our Child Trust Fund gives you the chance to invest simply in their future. If your child or grandchild has a Child Trust Fund with us, then you can top it up at any time. £20 here, £50 there.
A little Christmas gift, just for you!
There’s more good news. If you top up their Child Trust Fund with £100 or more by 23rd December 2019 we’ll send you a £10 M&S Gift Card.
Make sure you quote CTFChristmas01 to receive your Gift Card.
Why top up their child trust fund?
You can pay in £4,368 in the 2019/2020 tax year.
Your money is invested in our top performing With Profits fund and has the potential to grow thanks to annual and final bonuses. (Source: Barnett Waddingham Survey Dec 2018)
Make top ups from as little as £5 a month, or one off payments from £50.
Friends and family can top up too. It could be the perfect place for Birthday and Christmas money!
“Thanks to the generosity of Foresters Friendly Society, I received an Educational Award grant, which allowed me to purchase literature for my course, together with assisting with my accommodation costs whilst at University. The grant has provided a financial benefit towards my continued ambition of becoming a primary school teacher.”
Can I still open a Foresters Friendly Society Child Trust Fund?
Child Trust Funds are no longer available to open and were replaced by the Junior ISA. But on the plus side, we do offer other saving plans which can be used to save for your child’s future. They’re our Junior ISA and our Child Tax Exempt Savings Plan. It’s still possible to transfer an existing Child Trust Fund or Junior ISA into a Foresters Friendly Society Junior ISA, simply download a Transfer Form and submit your application by post. We will manage the transfer on your behalf.
Is there a limit on the amount of top ups I can make?
Yes. The maximum you can top up for the 2019/2020 tax year is £4,368.
If you want to pay in more than £4,368 per year, our Child Tax Exempt Savings Plan can be taken out as well as a Child Trust Fund to further maximise the child’s savings.
Can my child access the money in their Child Trust Fund before they reach 18?
No. The Child Trust Fund is designed to offer a financial head start when the child becomes an adult by providing a cash payment when they turn 18 years old. Only in exceptional circumstances can they get their hands on the money. There are further details within the plan conditions which you will have received when you opened the Child Trust Fund. If you have misplaced these, please call us on 0800 988 2418 and we will answer any questions you may have.
Can I have access to the money?
No, the only person who can access the money in the Child Trust Fund is your child. And even then it’s locked away until they’re 18.
Do I have control over the money?
You control the Child Trust Fund until your child reaches 16. From 16 onwards, your child can control the Child Trust Fund if they wish to.
Where is the money invested?
The money you pay into the Child Trust Fund is invested in Foresters Friendly Society’s top performing with profits Order Insurance Fund, with the Ethical Child Trust Fund only being invested in the ethical section of our fund. We never forget it’s your child’s money, so we take extra good care of it. The money is spread across a number of different types of assets that may include property, UK government bonds, equities and cash. If the return from any one particular asset type is poor, the investment may be protected from the full impact of this fall as other assets may perform better.
What interest does the plan pay?
The Child Trust Fund does not pay interest. Instead, by investing the money you pay into the plan into our with profits Order Insurance Fund we provide the potential for growth by way of bonuses. The better the fund does, the higher the bonuses your child could potentially receive. Any profits generated by our fund are used to add an annual bonus and possibly a final bonus when the plan reaches the end of its term.
We have paid annual bonuses on our Child Trust Fund for the past 11 years.
- In 2018 the annual bonus rate was 2%
The annual bonus is applied to the amount you have invested in your child’s Child Trust Fund to date plus any previous bonuses that have been added.
The addition of any bonus is not guaranteed. To find out more about the addition of bonuses and how we manage our fund please read our Principles and Practices of Financial Management (PPFM).
Added value for your child – Foresters Extras
With a Child Trust Fund your child is part of the Foresters Friendly Family, and can enjoy some wonderful, unique benefits including discretionary grants to help with the cost of higher education and to support life’s ups or downs.
Three ways to top up your child trust fund
Make a one-off, secure, payment from your debit card. Top up online now.
Call us on 0800 988 2418 and we can take a payment from your debit card over the phone.
Download the Child Trust Fund Top Up Form and either complete the Direct Debit instruction, or attach a cheque for the lump sum contribution amount, then send it back to us and we will do the rest for you.
We’re here if you need help or have any questions
If you’re a little stuck and need help, please get in touch. Our UK based team can help to make things as smooth and easy as possible (lines are open Monday to Friday 9 am to 5 pm).