CTFs boosted by grandparents
24/07/2006
Friends and family are donating to child trust funds (CTF), a survey from Engage Mutual Assurance reveals.
The research shows that 14 per cent of grandparents plan to add to CTFs, while 15 per cent of parents surveyed indicated that friends and family would make regular donations.
However, the findings reveal that more parents could be discussing their child's CTF, with less than 18 per cent admitting to talking to their relatives and close friends about it.
Engage believes that the more parents talk about their children's finances, the more likely their offspring will benefit from donations from loved ones.
Karl Elliott, Engage marketing director, said: "These figures suggest that over 200,000 grandparents could be planning to add to a child trust fund, which at this early stage is great news.
"Just think of how much youngsters could benefit if parents were more at ease when discussing contributions on their child's behalf."
He added that the company's research also shows that "over a third of parents said they'd recommend to friends and family to invest on special occasions such a birthdays and Christmas".
Last week, F&C Asset Management urged parents to use CTFs as a way of saving for their children's future education.
The research shows that 14 per cent of grandparents plan to add to CTFs, while 15 per cent of parents surveyed indicated that friends and family would make regular donations.
However, the findings reveal that more parents could be discussing their child's CTF, with less than 18 per cent admitting to talking to their relatives and close friends about it.
Engage believes that the more parents talk about their children's finances, the more likely their offspring will benefit from donations from loved ones.
Karl Elliott, Engage marketing director, said: "These figures suggest that over 200,000 grandparents could be planning to add to a child trust fund, which at this early stage is great news.
"Just think of how much youngsters could benefit if parents were more at ease when discussing contributions on their child's behalf."
He added that the company's research also shows that "over a third of parents said they'd recommend to friends and family to invest on special occasions such a birthdays and Christmas".
Last week, F&C Asset Management urged parents to use CTFs as a way of saving for their children's future education.
