Put your trust in child's fund (From Warrington Guardian)

Put your trust in child's fund

NANTWICH parents are being urged to provide a nest egg for their children for adulthood.

Parents of young children will have received a voucher worth £250, with which to set up a new personal savings account called a Child Trust Fund.

Children in families with low incomes will get an extra £250 payment into their fund account.

The extra payment will be made this month for babies born before 5 April 2004 and next year for babies born since then.

Borough councillor Tom Dunlop is urging parents to set up the fund as quickly as possible so they can make the most of the payment.

The Government makes a further contribution to the account when the child reaches the age of seven - and another payment when they are at secondary school.

The account belongs to the child and can't be touched until they turn 18, so that they will have some money behind them to start their adult life.