Tag Archives: Child Trust Fund

Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

The Children’s Mutual Finds Parents Of Younger Children Being Warned To Start Saving

According to research by The Children’s Mutual, a leading Child Trust Fund provider, parents of 18 to 30-year-olds are warning families of younger children to start saving now to fund the future, with nearly a 28% saying that they have either remortgaged or are planning to remortgage to fund their child’s adulthood. The research also revealed that many parents of adult children said that if they had their time again they would have saved more.

The Children's Mutual Finds Parents Of Younger Children Being Warned To Start Saving

As the coalition Government threatens to cut the Child Trust Fund (CTF), The Children’s Mutual is urging parents whose children are eligible for the accounts to make the most of them while they can.

David White, Chief Executive of The Children’s Mutual, said: “Saving for your child is a ‘necessity’ not a ‘nice-to-have’. Parents of today’s 18 to 30-year-olds are having to find an average of £30,000 to fund their adult children the hard way – by remortgaging or borrowing further. We believe the only way that most families will be able to help fund children to fulfil their potential going forward is by saving regularly over the long term.”

Parents of CTF holding children should not be disheartened or confused by the coalition’s proposal. The Government has confirmed that for existing customers, the accounts will remain as they are; meaning that the families of the five million CTF holding children across the UK can continue to save up to £1,200 a year tax efficiently to help give their child a much needed springboard into adulthood.

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

The Children’s Mutual Reports CTFs Have Revolutionised Child Savings

The Children’s Mutual, a leading Child Trust Fund provider, has revealed new research that, five years on from the first CTF vouchers being issued, the introduction of the CTF has revolutionised long-term savings for children.

The Children's Mutual Reports CTFs Have Revolutionised Child Savings

With every eligible child born since 1 September 2002 having a CTF account, 2010 will see more than five million children holding CTFs.

The Children’s Mutual has revealed that around half of their CTF customers set up a monthly direct debit on the day they open their child’s account. If you look at wider industry statistics, 31% of CTFs receive some form of additional saving. Before the Child Trust Fund was introduced, just one in five families were saving over the long-term for their children.

In addition, while nearly three quarters of parents choose to proactively open their child’s CTF account, a survey by the awards winning Child Trust Fund provider found that when asked over one in 10 parents with CTF vouchers were opting to let the government open the account for them – making an engagement rate of 85%. Compared to engagement rates of other savings products – 40% of the adult population has a private pension and 30% have an ISA – the CTF has driven the UK adult population to engage.

The Children’s Mutual also found that currently 1.4m parents, family and friends are contributing to their children’s accounts with in excess of £22m being added every month – money set to help towards the cost of higher education, first homes and beyond. As a result they estimate £2.74 billion will be available to young adults each year as they turn 18.

According to its calculations, 50% of the government CTF investment so far is going to 1.5 million families on the lowest incomes (under £15,000), with families in the lowest income bracket saving a higher proportion of their household income for their children than those in more affluent groupings.

David White, chief executive of The Children’s Mutual, said: “To those of us involved with the CTF, five years has gone by in the blink of an eye. And yet in that short amount of time, the results have been startling – the CTF has done what no other savings account has achieved before – getting the mass UK population engaged and saving. We’re delighted that parents have engaged with the first universal savings scheme, realising that the only realistic way to fund their adult children’s futures is to start saving now.”

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

The Children’s Mutual Reports Parents Persist In Saving

The Children’s Mutual, a leading Child Trust Fund provider, has reported that the latest figures from HM Revenue and Customs (HMRC) show that parents are persisting in saving for their children and engaging with the Child Trust Fund.

The Children's Mutual Reports Parents Persist In Saving

The new quarterly Child Trust Fund statistics released by the HMRC have revealed that nearly three quarters of all Child Trust Funds (CTFs) are proactively opened within a year of a child’s birth. However, according to a new analysis from The Children’s Mutual, this figure only tells part of the story of parents’ engagement with saving for their children.

The award winning Child Trust Fund provider found that while the vast majority of parents open an account for their child rather than waiting for the Government to do so, many of those who don’t are making a proactive decision not to while others are understandably busy with their new baby.

David White, Chief Executive of The Children’s Mutual, said: “Because the CTF is universal, every single eligible child receives an account, but what is impressive is that nearly 75% of parents choose to proactively open the account and around half of our customers start saving on a monthly basis immediately.”

According to its research among parents of young children, over one in 10 parents actively choose not to open an account and to let the Government do so on their behalf, citing their lack of familiarity with financial matters. In addition, research among parents who haven’t opened accounts found that 27% say it is because they haven’t had time to think about it – not surprising considering a new baby has a profound effect on family life.

Mr White said: “Attention is often paid to the quarter of parents who do not open accounts, accusing them of not engaging with, or being interested in the CTF, but our research shows that parents are far more engaged than many would believe. We found that over one in 10 parents, with CTF vouchers to place, said they would choose to let the Government open their child’s CTF and of those who haven’t opened accounts, the number one reason is because they are understandably focusing on the here-and-now. The beauty of the CTF is that it allows for this, with the Government opening accounts on behalf of parents if they don’t do it themselves, meaning that no child will miss out.

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

The Children’s Mutual Launches New Pocket Money Site To Help Families

According to new research from The Children’s Mutual, the old saying that good manners cost nothing is not strictly true, as 44% of children are now financially rewarded for good behaviour.

Award winning Child Trust Fund Provider, The Children’s Mutual, has revealed that as well as good behaviour, parents are also offering an ‘honest wage’ for a hard day’s work. 37% of children ‘earn’ their pocket money by helping out with chores around the home and 19% fill their piggy banks by helping out with the family pet.

As the Government announces plans to make financial education compulsory for children as young as five from 2012, leading Child Trust Fund provider The Children’s Mutual has launched a new Pocket Money Petz microsite which has been created to help parents teach their children about pocket money and saving.

Children can choose a ‘virtual’ pet, from a dog to a dinosaur, to help them learn to boost, manage and save their pocket money earnings, and while children have fun deciding which character to accompany them through PocketMoneyPetz, their parents can put a value against each chore to help them learn the value of money.

Tony Anderson, Marketing Director at The Children’s Mutual, said: “As children are receiving more and more pocket money in return for undertaking household chores, helping with the family pet and their good behaviour, we created Pocket Money Petz to help spark their imaginations about earning and saving money.”

According to The Children’s Mutual research, the going rate for pocket money has increased by a whopping 83% in a single generation from when their parents received pocket money until today. Parents are already giving an average of £2.85 a week to their child, with many (27%) parents expecting to increase this amount by £1 each year.

However, despite the rise in pocket money, The Children’s Mutual research showed that parents are often unsure of how much to ‘pay’ their children and can feel pressurised to compete with how much other parents give. Nearly one in five (18%) said there was pressure to conform to a ‘market rate’ and 16% said they feel they pay too much but ‘have to go with what everyone gets’. In response to these concerns, The Children’s Mutual has also created a Parents’ Pocket Money Guide which offers advice on teaching children about money, how to give pocket money, when to start and how much to give and how often.

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

One In Five Parents Has A Will

According to new research by leading Child Trust Fund (CTF) provider The Children’s Mutual, just 18% of parents have written a will, yet many are unaware that should the worst happen and the parents die without having appointed a guardian, the child may not be looked after by their chosen carer and it will be up to the courts to decide where they live. The Children’s Mutual is therefore urging parents to make and keep just one New Year’s Resolution this year – to write a will.

According to research by The Children’s Mutual, the majority of parents who hadn’t written a will said it was because the task was ‘sitting on the to do list’ but wasn’t a priority (35%), 32% said they hadn’t found the time and 27% said they couldn’t afford to write a will. To help address these concerns, The Children’s Mutual has put together a simple Will Writing Checklist which is available on request to assist parents ahead of writing a will and is offering a discounted rate for a standard will of £50 plus VAT through its Will Writing Service in partnership with Flint Bishop Solicitors.

The Children’s Mutual is calling on parents to act to protect their children and is urging the one in three (27%) parents it surveyed who said they planned to write a will, to do just that this year.

Tony Anderson, Marketing Director at The Children’s Mutual, said: “The majority of parents have writing a will on their to do list but we’re urging them to put their New Year’s Resolutions to good use in 2010 and make it happen. While it’s something no parent wants to think about, getting a will written and their paperwork in order so they know their child will be cared and provided for will be a huge weight off their mind.”

Of the parents questioned who have a will, their top reasons for writing one were to ensure their partner inherited their estate and because they wanted to decide who would look after their children should the worst happen.

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

Animated Guide To Child Trust Funds

Leading Child Trust Fund provider The Children’s Mutual is pleased to announce the launch of a new cartoon guide to Child Trust Funds – the first of its kind in the marketplace.

The cartoon guide is a five minute animation in a graphic style reminiscent of perennial children’s favourite, Fuzzy Felt. During the film, busy new mum, Mel, (and baby Emily) explain what the Child Trust Fund is, the different sorts of funds that are available, their individual features, how to find a provider and how to go about applying for a fund.

The Child Trust Fund guide has additional link-back buttons at the end that allow viewers to go directly back to sections of particular interest and watch them again. It also gives clear direction to alternative information sources including HMRC.

Marketing Director, Tony Anderson, said: “We appreciate that new parents have very little free time and when they do get a chance to sit down they aren’t necessarily in the mood to wade through financial paperwork or regulatory terminology. But they still want to be sure that they are making the right choices for their children. This is where our animated guide provides a completely new approach to helping customers – through carefully chosen language and functionality. It provides all the salient information about CTFs in easy to understand language and simple to access bite size sections.”

The cartoon guide can be viewed at The Children’s Mutual’s own website and is also available for publications and sites to host themselves to help their own audiences to more easily understand the Child Trust Fund.

Tony concluded: “Opening a Child Trust Fund account can seem like a daunting task, but with our new guide it needn’t be. All we ask is that parents give us just five minutes of their time to help them make an informed decision.”

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children. Each eligible newborn child (born on or after 1 September 2002) receives £250 (£500 for low income families) from the government when their parents register for Child Benefit. The Government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child’s teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year.

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

The Children’s Mutual Launches CTF Cashback Site

The Children’s Mutual, leading Child Trust Fund provider, has revealed that expectant parents can earn over £200 by using its new shopping portal CTFCashback.co.uk to kit out their babies’ nurseries.

Research shows that on average, British parents spend £3,383 decorating and furnishing a nursery with a further £605 spent on prams, buggies and car seats. If parents did this shopping through CTF Cashback, they could be earning financial rewards of up to £215.

Free to use, the site enables online shoppers to build up cash in £10 increments which can be placed directly into a bank account or a Child Trust Fund with The Children’s Mutual.

The site, which offers members up to 20% cash back and lists over 1,000 retailers – many with additional voucher codes – can help parents and the wider family continue to save as the baby grows up too. By using CTFCashback.co.uk to purchase ongoing essentials such as nappies and baby wear right through to buying presents and even holidays.

Tony Anderson, Marketing Director at The Children’s Mutual, said: “All parents quickly realise that buying everything they need and want for their child can be an expensive business. We created our CTF Cashback site to assist parents in getting great value for money on all their purchases, whilst being able to save towards their child’s future”.

Over 1,000 major retailers have already signed up to the scheme including leading brand favourites such as Mothercare, John Lewis, Kiddicare.com and Marks & Spencer. Collectively, retailers are offering www.CTFCashback.co.uk members average returns of over 5% through the site, with some offering up to 20% or lump sums of up to £85.

Tony Anderson continued, “When questioning expectant and new parents through our monthly poll, nearly 90 per cent* suggested that they would like to receive ‘money back’ for their nursery shopping. We have taken this one step further so, whether it’s buying baby grows and nappies or school uniforms and family holidays we wanted cash-strapped parents to be earning money every time they spend online. With so many pulls on household budgets, www.CTFCashback.co.uk offers a practical way of helping families to be savvy with their money and encourage them to save towards their children’s futures.”

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

The Rise Of Stay At Home Dads

According to new research by leading Child Trust Fund (CTF) provider, The Children’s Mutual, contrary to concerns of an allegedly worsening work/life balance in the UK, many fathers are electing to be at home either full or part-time, looking after their little ones and taking care of the house. Figures refer to The Children’s Mutual Working and Stay at Home Dads research, undertaken by 72 Point. 2,187 dads interviewed in June 2009.

Following the birth of their children, 26% of dads decided to work part-time and nearly as many (24%) started working flexibly. 14% of dads chose to stop working outside the home altogether.

43% of these dads are responding to the current recession by spending even more time helping around the house, with only 27% feeling that they now need to become more focused on earning money.

Perhaps unsurprisingly, stay-at-home dads spend the greatest amount of their time each week looking after the children (4hrs 22mins) and cooking (3hrs 50mins), as well as arranging the family finances (3hrs 45mins). And even though they have more time to be with their children than full-time working dads, stay-at-home dads wished they could spend a further hour a day with their children.

David White, Chief Executive of The Children’s Mutual, said: “The changing role of dads within families is a positive step towards the greater recognition of what dads can and do contribute to family life. Dads play a vital role within their children’s lives and their homes, so it’s great to see these changing family dynamics.

“One of the most important roles for every dad is being a provider for his children, whether that’s as the main breadwinner or as the lead carer. Dads want to provide for their children now and will want to continue to do so as they grow up. One way dads can really help provide for their children is planning for the future and saving regularly over the long term. Contributing towards a Child Trust Fund is one of the ways dads can save for their children’s futures. By opening a Child Trust Fund early and saving regularly and encouraging friends and family to contribute too, dads can help to give their children a financial springboard into adulthood.”

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children. Each eligible newborn child (born on or after 1 September 2002) receives a £250 Child Trust Fund voucher (£500 for low income families) from the Government when their parents register for Child Benefit. The Government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child’s teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year.

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

Best Child Trust Fund Provider Award For The Children’s Mutual

The Children’s Mutual has won the Best Child Trust Fund Provider Award from leading financial advice magazine Moneyfacts Investment Life & Pensions for the fourth year in succession.

The Children’s Mutual fought off stiff competition from more than 70 Child Trust Fund providers – including several national banks and building societies – to win the celebrated award.

Based on a combination of the analytical expertise of the Investment Life & Pensions Moneyfacts research team and the opinions of its IFA readership, the Awards recognise companies that have consistently offered the most competitive products, the best levels of service and shown the greatest innovation during the last 12 months.

On winning for the fourth time marketing director of The Children’s Mutual, Tony Anderson, said: “This is a great achievement for the organisation. To win the award every year since it was introduced makes me immensely proud of the hard work and professionalism of our employees here in Tunbridge Wells and our colleagues in partner relationships in Cheltenham and Glasgow.

“We try very hard to put customers at the heart of what we do and as a result we are the choice of one in four families opening a CTF account for their children. I’m delighted that our hard work and high standards continue to be recognised by professionals in our industry too.”

Editor of Investment Life & Pensions Moneyfacts, Richard Eagling, said: “The Awards have become a highly sought after accolade of excellence within the financial services sector and recognise the outstanding achievements of providers which offer the very best products and service levels. The Children’s Mutual must have a winning formula. Being presented with this prestigious award on no less than four consecutive occasions is a magnificent achievement.”

Actor and comedian, Chris Barrie, best known for his roles in Red Dwarf and The Brittas Empire hosted The Investment Life & Pensions Moneyfacts Awards at The Brewery, Chiswell Street, London on Friday 25 September 2009.

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children. Each eligible newborn child (born on or after 1 September 2002) receives a £250 Child Trust Fund voucher (£500 for low income families) from the Government when their parents register for Child Benefit. The Government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child’s teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year.

Via EPR Network
More Financial press releases

Assets, Financial, Financial Information, Financial Management, Financial Services, Financial Solutions, Investment, Money, Personal Finance, Security

According To A New Research Dads Worth An Additional £17,000 To Families

According to new research by the leading Child Trust Fund (CTF) provider, The Children’s Mutual, today’s dads undertake a wide variety of tasks in and around the home, such as cooking, assembling toys, acting as the children’s taxi service, doing the school run, organising family finances and doing DIY. This unpaid work is worth up to £17,000 a year, and is on top of the contribution to family life that a working dad’s salary provides.

It is the children that really benefit from dad’s helping hand, as their number one activity during the week is spending time with their children (4hrs6mins). This is followed by cooking (3hrs19mins), DIY (3hrs11mins) and arranging family finances (3hrs9mins).

David White, Chief Executive of The Children’s Mutual, said: “Dads play such an important role within the home and in the lives of their children – our calculations show the additional monetary value that dads now have around the home, quite apart from the emotional value that they have, supporting their partner and children. It’s great that looking after their children is so high on dad’s agendas, but it’s also really encouraging to see just how high up arranging the family finances are.

“Even in the current climate, dads are still looking to the future with 23% of working dads saying that saving for their children’s futures is a top priority. Currently 57% are working on this by trying to save what they can regularly. Contributing towards a CTF is one of the ways dads can save for their children’s futures. By saving regularly, and over the long-term, dads can help to give their children a financial springboard into adulthood that could be worth up to £37,100 when they reach age 18. This could be a massive help towards the cost of university or a deposit for their first home”.

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible young children. Each eligible newborn child (born on or after 1 September 2002) receives £250 (£500 for low income families) from the Government when their parents register for Child Benefit. The Government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child’s teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year. The Government’s preferred option is a Stakeholder Child Trust Fund account which is subject to strict guidelines governing investment type and charges. The Child Trust Fund provider manages the account until it matures and becomes available to the child when they are 18.

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

The Children’s Mutual Reveals Child Trust Funds Top 4.4 Million

The Children’s Mutual has highlighted that the latest figures issued by HM Revenue and Customs (HMRC) show the continuing revolution in children’s savings and demonstrates parents’ commitment to their children’s futures in the current environment. The quarterly Child Trust Fund (CTF) statistics released by HMRC have revealed that 4.4 million children under seven in the UK now have a Child Trust Fund.

David White, Chief Executive of the Child Trust Fund provider, The Children’s Mutual said: “These latest figures show that the Child Trust Fund generation is growing steadily and, unlike any generation before them, in 11 years’ time the first CTF recipients will reach adulthood with greater financial knowledge and an important financial headstart. The average amount saved each month by our CTF customers is £24. Over 18 years, these savings could produce a fund of around £9,750*, a significant financial help for young adults who may want to attend university or put down a deposit on their first home.

Recent research by The Children’s Mutual found that despite the recession parents still feel that saving for their children and giving them the best future they can is very important. In the last year The Children’s Mutual has seen a considerable rise in the number of CTFs being opened and a 16% increase on 2007, with record months for the number of parents with newborns opening CTF’s online in May and June.

David continued, “It is now more important than ever during these challenging economic times, that parents take the time to choose where to open a CTF and start saving towards their child’s future. And now that parents no longer have to hand over a CTF voucher when opening a CTF, it’s even easier and faster for them to set up their child’s account.”

Had a product similar to the CTF existed 18 years ago and family and friends saved£100 a month in a shares-based plan for a child over that time, that youngster could now have the benefit of a fund worth £37,400**.”

* Projected values quoted based on investing £24 a month (plus £250 government vouchers at birth and age 7) for 18 years in a stakeholder CTF account. 7% per annum assumed investment return, with charges of 1.5% of the CTF account value each year. Projected values cannot be guaranteed as shares can go up or down. Final payout could be more or less than this.

** The assumed maturity figure is based on a hypothetical calculation, tracking the real performance of shares over 18 years, from 1991 to 2009. They include £250 invested at the child’s birth and at age seven and 1.5% charges, as with the Stakeholder CTF today. This assumes investment in the FTSE All-Share index over that period including reinvestment of the dividend yield. The figures also include lifestyling. Amount Received as at end May 2009

About The Children’s Mutual – Home of the Child Trust Fund
The Children’s Mutual’s mission is to help parents, grandparents, family and friends fulfil their hopes for today’s children. The Children’s Mutual is the only UK company that specialises in long term savings for children and is now the choice of 1 in 4 parents for their child’s Child Trust Fund, with more than 650,000 accounts.

The Children’s Mutual has won the The Moneyfacts Award for Best Child Trust Fund Provider every year since its 2006 launch.

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

The Children’s Mutual Finds Parents Prioritise Children’s Dreams

According to The Children’s Mutual over 5.5 million* young people in the UK are receiving financial help from their parents in order to realise their dreams and aspirations. In some cases this could lead to their parents abandoning their own dreams for the future and potentially undermining their finances.

thechildrensmutual

The research by the leading Child Trust Fund provider illustrates the finances that can be needed to realise an adult child’s ambitions and The Children’s Mutual is encouraging parents of today’s younger children to consider saving now if they want to be able to afford both these and their own retirement dreams.

Many parents of today’s 20 something’s have had to raid their own savings or sacrifice their retirement goals in order to help their adult children fulfil theirs. After spending years saving to fulfil their long-standing future plans, parents are finding that when the time comes the funds won’t cover the aspirations of both generations.

28%** of today’s 25 year-olds have financial support from their parents towards education, 23%*** towards their rent and 19%*** have financial support from their parents towards holidays and trips abroad.

David White, Chief Executive, The Children’s Mutual, commented, “We are highlighting to parents of younger children that by starting to save for their child’s future now, they can help avoid the struggles faced by the baby-boomer generation who regularly sacrifice their own dreams for those of their children.”

Research from The Children’s Mutual shows that 80%** of today’s 18 to 25 year-olds believe they can be ‘financially independent’ while still receiving financial support from their parents and 66%*** of those who are ‘completely financially independent’ still get some form of financial support from parents.

Starting to save small amounts regularly over the long-term into Child Trust Funds, is one way parents of today’s children could stand a better chance of fulfilling their own desires alongside being able to provide for their children as they enter adulthood.

David White continued; “Making the step into adulthood is often a strain financially. But from 2020 all 18 year-olds will be receiving their Child Trust Fund and those whose families have managed to save the maximum amount of £1,200 each year will have a fund that could be worth£37,100**** upon maturity. Those who save the average amount amongst our customers of £24 a month could have a fund worth £9,750 (based on investing £24 a month) when they reach age 18.”

* 6,309,156 (UK 18-25 year olds – source: statistics.gov.uk) / 100 x 87.2 (18-25 year olds who have had financial help from their parents according to The Children’s Mutual’s Financial Independence Report 2009) = 5,501,584
** Financial Independence Report commissioned by The Children’s Mutual February 2009
*** ibid
**** Projection includes monthly investment (plus £250 government vouchers at birth and age 7) for 18 years in a stakeholder CTF account. Assumed investment return – 7% a year, with charges of 1.5% of the CTF account value each year. Projected values cannot be guaranteed as shares can go up or down. Final payout could be more or less than this.

About The Children’s Mutual – Home of the Child Trust Fund
The Children’s Mutual’s mission is to help parents, grandparents, family and friends fulfil their hopes for today’s children. The Children’s Mutual is the only UK company that specialises in long term savings for children and is now the choice of 1 in 4 parents for their child’s Child Trust Fund, with more than 650,000 accounts.

The Children’s Mutual has won the The Moneyfacts Award for Best Child Trust Fund Provider every year since its 2006 launch.

This expertise has led several financial institutions and family-focused high street retailers to choose The Children’s Mutual as their CTF partner including ASDA, Boots, The Co-operative, Lloyds TSB, Mothercare and regional bank and building societies across the UK.

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

The Children’s Mutual Reveals Dads Are Kid’s Number One Heroes

Leading Child Trust Fund (CTF) provider, The Children’s Mutual, has revealed that Dads are their children’s number one heroes, fighting off stiff competition from super heroes, fairy tale princesses, alien fighters, cartoon explorers and world footballer of the year, Ronaldo. This new research from The Children’s Mutual has been released to mark Father’s Day.

The company spoke to 1,000 of its customers to find out who their children most admired and see how aspirations change over time. For five and six-year-olds, Dad topped the poll for both girls and boys. Mums also fared well, being runner up in the hero stakes for girls and finishing fifth for boys – well ahead of Superman and Batman.

Both Grandma and Granddad also feature in the children’s top 10 hero list, with Grandma finishing 10th for girls and Granddad securing ninth spot for the boys, demonstrating the importance of the extended family for today’s young children.

Tony Anderson, Marketing Director at The Children’s Mutual, said: “Being a great dad can feel like a superhuman challenge and it’s wonderful that today’s five and six-year-olds can see past the special effects and costumes frequently found in children’s popular fiction to appreciate their own home grown hero – Dad”.

“Every dad wants to do the best they can for their children and one small part of this is planning for their futures – particularly if they are not going to automatically come into a Bruce Wayne sized inheritance. This is where we hope we can help. By saving money regularly into a Child Trust Fund, families can give their children a financial head start in life – by saving £24 a month into their CTF account from birth, the fund could be worth £9,700 by the time they turn 18. This increases to a potential £37,000 if the maximum £100 a month is invested – an enormous help towards covering university fees or paying for the deposit on a first home.”

For further information visit The Children’s Mutual.

The findings come from The Children’s Mutual’s annual ‘What I want to Be When I Grow Up’ research. Parents of 1,000 children aged five and six were interviewed in 2006 and 2007 to track how their aspirations change over time.

Future projected values quoted based on investing £24 or £100 a month (plus £250 government vouchers at birth and age 7) for 18 years in a stakeholder CTF account. Assumed investment return of 7% a year, with charges of 1.5% of the CTF account value each year. Projected values cannot be guaranteed as shares can go up or down. Final payout could be more or less than this.

About The Children’s Mutual – Home of the Child Trust Fund
The Children’s Mutual’s mission is to help family and friends fulfil their hopes for today’s children. The Children’s Mutual is now the choice of 1 in 4 parents for their child’s Child Trust Fund, looking after more than 650,000 CTF accounts. The Children’s Mutual made a significant contribution to the Government’s Child Trust Fund consultation process and has won the The Moneyfacts Award for Best Child Trust Fund Provider every year since its 2006 launch.

The Children’s Mutual is widely recognised by the business community and press as the industry expert, with financial institutions and family-focused high street retailers including ASDA, Boots, The Co operative, Lloyds TSB, Mothercare and regional bank and building societies across the UK choosing The Children’s Mutual’s as their CTF partner.

Via EPR Network
More Financial press releases

Checking & Savings, Costs, Financial, Financial Information, Financial Services, Money, Personal Finance

Tooth Fairy Tightening Purse Strings As Recession Bites

The Children’s Mutual’s annual Tooth Fairy Index has revealed that the average cost of a child’s tooth has fallen six per cent from £1.22 to £1.15. The index shows that even the Tooth Fairy is having to fight the economic gloom, giving away £1.3* million less this year than last, as the credit crunch extends its clutches to the magic realm of Fairyland.

Tooth Fairy Index

In 2008, the Child Trust Fund provider’s Tooth Fairy Index found the average cost of a tooth had risen by an impressive 16% on the previous year. But 12 months on, the tooth market is showing signs of decay as parents resist the ‘fairy pressure’ reported in previous years, with 24% now happy to pay less than average, stating this helps their children understand the value of money.

David White, Chief Executive of The Children’s Mutual said: “The fall in the value of teeth provides the perfect opportunity for parents to talk to their child about the value of money and the impact of the credit crunch. Talking about the value of money in terms children can easily understand can help them appreciate the importance of saving.”

Encouragingly, 55% of all children save some or all of the money the tooth fairy leaves in exchange for their teeth. Children in the South West have the most bulging piggy banks as over three quarters (77%) are saving their tooth pennies, while those in Scotland are choosing to splash their cash, with 51% spending all the money the tooth fairy leaves under their pillow.

The Children’s Mutual’s Tooth Fairy Index reveals that attitudes towards the tooth fairy vary widely across the UK. Children in Northern Ireland benefit the most from the tooth fairy’s generosity, as one in 8 children (12.5%) receive £5 or more for each tooth that wobbles free, whereas 12% of children in the Midlands have a gap in their purses as well as their mouths as they are forgotten by the tooth fairy altogether.

The report also indicates that the tooth fairy herself has changed over the years. Traditionally, the tooth fairy has been known for leaving money, letters, and a sprinkling of fairy dust on her nightly rounds, though some parents recalled receiving an orange, toys or a book as a special treat from the tooth fairy. Their children in turn are now the recipients of mobile phone credit and magazines as the tooth fairy flies into the twenty-first century.

About The Childrens Mutual
The Children’s Mutual’s mission is to help parents, grandparents, family and friends fulfil their hopes for today’s children and secure their financial futures. The company specialises exclusively in family-focused finance products, and is currently the choice of 1 in 4 parents for Child Trust Funds.

The Children’s Mutual, as an expert in savings for children, made a significant contribution to the Government’s Child Trust Fund consultation process and is widely recognised by the business community and press as an industry expert on family finance. This expertise has led several financial institutions and family-focused high street retailers to choose The Children’s Mutual as their stakeholder Child Trust Fund partner.

A breakdown of the average amount of money left per tooth in each region of the UK is available upon request.

All research conducted by 72 Point who interviewed 2070 parents with children aged 5-15 in May 2009
* Average number of children aged 6-11(4.8m) losing 4 teeth per year x the average tooth fairy rate of £1.15 – average number of children = 4.8m x 4 teeth per year = 19.2m; 19.2m x 1.15 = £22.8m. Last year’s value = £23.4m – this year’s value of £22.08 = £1.32m

The Children’s Mutual has a large database of case studies available. David White, The Children’s Mutual Chief Executive, is available for interview. 

Via EPR Network
More Financial press releases

Checking & Savings, Costs, Financial, Financial Information, Financial Services, Insurance, Insurance Services, Money, Personal Finance

Leading Child Trust Fund Provider, The Children’s Mutual, Has Announced The Launch Of A Very Different Return Of Premium Term Life Insurance Policy

thechildrensmutual.co.uk

Traditional Term Insurance products ask people to pay regular insurance premiums on the understanding that if the person insured dies during the policy term a payment will be made to the family or executors. But, if the person insured survives the term neither they nor the family will receive anything back.

The Children’s Mutual has teamed up with insurance experts ACE Europe Life Ltd to offer customers the ACE Return of Premium Term Life Insurance policy, which gives families the financial security of up to £100,000 cover in the event of death, combined with a guarantee that if the worst doesn’t happen all premiums paid will be returned. This ensures that, as well as peace of mind throughout the term, policy holders will have something to look forward to at the end of it too.

Designed to be easy and affordable as well as rewarding, the Return of Premium Term Life Insurance can be applied for online by simply completing 4 straightforward questions to check eligibility. There is no medical to pass and the length of term is selected by the applicant at the time of submission – f r o m 5 to 18 years – to reflect personal circumstances and requirements.

David White, Chief Executive Officer of The Children’s Mutual, leading Child Trust Fund provider, commented: “We are delighted to announce the launch of what we believe to be the only product of this kind in the UK. We have worked closely with ACE to develop a form of Term Insurance that will offer our customers reassurance and value throughout as well as giving them an added reward at term end.”

The new ACE Return of Premium Term Life Insurance policy has been created to provide a win-win situation for policy holders – with protection for loved ones should the worst happen, and money back if it doesn’t.

Benefits include:

– Peace of mind for the whole family
– Up to £100,000 of cover 
– All premiums back if the holder survives the full policy term
– Quick and easy application process 
– Variable length of policy – f r o m 5 to 18 years 
– Affordable monthly payments

To celebrate this innovative new product, a special introductory incentive is being offered, where policy holders pay just 99p a month for their first 2 months of cover. Additionally, if the partner of a policy holder also takes out cover, then they will pay just 99p a month for the first 2 months as well, plus receive 15% off all their monthly premiums after that.

About The Children’s Mutual

Home of the Child Trust Fund The Children’s Mutual’s mission is to help parents, grandparents, family and friends fulfil their hopes for today’s children and secure their financial futures. The company specialises exclusively in family-focused finance products, and is currently the choice of 1 in 4 parents for their child’s Child Trust Fund.

The Children’s Mutual, as an expert in savings for children, made a significant contribution to the Government’s Child Trust Fund consultation process and is widely recognised by the business community and press as an industry expert on family finance. This expertise has led several financial institutions and family-focused high street retailers to choose The Children’s Mutual as their stakeholder CTF partner.

Via EPR Network
More Financial press releases