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The Children’s Mutual Reveals Dads Are Number One Hero For Kids

The Children’s Mutual has revealed that Dads, and not footballers or pop stars, are the number one hero for kids aged between five and seven for the second year running.

The annual UK poll by The Children’s Mutual has revealed that although Dads have topped the list of heroes, mums will be disappointed as they have fallen from the number two spot last year, to number three in 2010.

However if Dads want to top the list again next year, they can’t afford to rest on their laurels just yet. They face strong competition from fictional characters such as Ben 10, Spiderman and Hannah Montana. Interestingly, there are four new entries in the top 10 this year, with teachers coming in at number five, the ever-popular Cheryl Cole at number six and Granddad at number nine. Those to fall out of favour in 2010’s top 10 include Gabriella from High School Musical, Power Rangers, Dora the Explorer and Sporticus.

Tony Anderson, Marketing Director at The Children’s Mutual, said: “Since last year, Dads have continued to inspire their children and have held on to the top spot to be their number one hero. Dads have beaten off stiff competition from great fictional characters such as Doctor Who and Ben 10 which is a huge achievement.”

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The Children’s Mutual Reveals Cost Of Top Career Aspirations Set To Soar

The Children’s Mutual, the leading Child Trust Fund provider, has revealed new research* that suggests parents could be facing a bill in excess of £100,000 if their children grow up to fulfil their career ambitions.

The annual ‘What I Want to Be’ poll revealed that among five, six and seven year-olds, becoming a teacher, doctor or vet are the jobs of choice. The Children’s Mutual warned parents to start saving now as the latter two could cost £116,000 and £117,000 respectively in 18 years time.

Tony Anderson, Marketing Director of The Children’s Mutual, said: “Parents tell us their young children are highly ambitious and that they, as parents, fully intend to help them fund their futures. But the sums of money the top careers command could cause financial nightmares for families who don’t plan ahead. While the Coalition Government has announced its plan to significantly reduce payments into Child Trust Funds from 1 August 2010 and to abolish the scheme altogether for new babies born from 1 January 2011, the reality is that the cost of children’s futures hasn’t changed. We believe that the only way for parents to financially manage these costs is by saving regularly over the long term and are urging them to continue doing so.”

The Children’s Mutual questioned over a thousand parents about what their children said they wanted to be when they grew up and found that the majority of today’s children are looking for a career which requires further training and education. The top careers of doctor, teacher and vet have featured in the ‘What I Want to Be’ poll for the last three years, demonstrating that children consistently aspire to careers that will need higher education.

According to The Children’s Mutual, 93% of parents of today’s young adults are still funding their children, and the expert in long-term savings for children does not anticipate this changing. The Children’s Mutual is urging parents to continue saving regularly over the long term rather than having to face finding such large sums of money in the future.

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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.

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The Children’s Mutual Reports Saving For Children Is Still Crucial

The Children’s Mutual, a leading Child Trust Fund provider, reports that saving for children is crucial and urges the 5 million families whose children hold Child Trust Fund (CTF) accounts to continue saving for their children into CTFs.

The Children's Mutual Reports Saving For Children Is Still Crucial

David White, Chief Executive of The Children’s Mutual, said: “The CTF has changed the nation’s savings habits and we congratulate families across the UK for recognising the critical importance of saving for their children’s futures.”

According to The Children’s Mutual, today’s parents are paying out an average of£30,000 to fund their children between the ages of 18 to 30 and these costs are only expected to rise for families of tomorrow.

The Children’s Mutual urges families to not be disheartened by the Government’s announcement to stop all payments to Child Trust Funds by January 2011, but to continue to help their children fulfil their future potential by saving regularly over the long term. CTF holding children now have a unique asset that others will not.

The Children’s Mutual also revealed that the Child Trust Fund is the single most successful savings policy to date and that this sort of short term cut does not address the pressing need for families to save or recognise the significant benefit to society that the CTF will bring from 2020 as maturing funds return an anticipated £2.96bn each year to the economy.

David White continued: “We also reassure our current and existing customers that having been in existence for the last 129 years, we have been providing long-term savings accounts for children and helping support families throughout our history. We are committed to continuing to do so in the future.”

Launched in 2005, Child Trust Funds were designed to provide a tax efficient, long term savings vehicle for all eligible children. Newborn children (born on or after 1 September 2002) received a £250 Child Trust Fund voucher (£500 for low income families) from the government when their parents registered for Child Benefit. The government then makes a second contribution of £250 (£500 for low income families) when the child reaches seven. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year. The proposed changes to the CTF will mean that for existing customers the accounts remain as before, with an annual tax-efficient top up allowance of £1,200, albeit without government’s additional contributions from 1 August 2010.

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Report: Child Trust Funds Receive Over £5 Million A Week

The Children’s Mutual, a leading Child Trust Fund (CTF) provider, has revealed that over £700,000 a day, or £5 million a week, is currently being invested in Child Trust Funds.

Report: Child Trust Funds Receive Over £5 Million A Week

As the UK’s first universal children’s savings product reached its fifth birthday in April 2010, these figures give a clear indication that over the last five years the actions of parents, families and friends have changed the savings habits in the UK, for the better.

Prior to April 2005 less than one in five parents were saving for their children’s future. However since the launch of the CTF this figure has rocketed to three in five.

David White, Chief Executive of The Children’s Mutual, said: “Given recent economic problems it is essential that the UK reignites its savings culture. In five short years there has been a 200% increase in the number of people saving for their children over the long term and the Child Trust Fund has been the catalyst. This is nothing short of phenomenal, given the uncertain financial backdrop many families have faced.”

Since April 2005 parents of five million children who now have a CTF have used them as a means to change their savings habits.

This commitment from parents and the Government towards saving for children’s futures may mean that an estimated £2.96 billion will be available to young adults each year as they turn 18 – a significant amount towards the increasing costs of adulthood such as buying a car, attending university and getting onto the property ladder.

April this year also marks the beginning of additional payments into CTFs for disabled children who are entitled to Disability Living Allowance. These additional yearly payments of £100 or (£200 for severely disabled children) could mean an extra£3,000 at age 18.

David White concludes: “The introduction of additional payments for disabled children is crucial as it reflects the additional costs that disabled young adults and their families may face. Along with Government we hope that the additional money will help to enable these children have a smooth journey into adulthood.”

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Report: Early Retirement Threatened Due To Costly Kids

The Children’s Mutual, a leading Child Trust Fund provider, has revealed that millions of parents in Britain are being forced to postpone their retirement to meet the rapidly rising financial burden of supporting their adult children.

Report: Early Retirement Threatened Due To Costly Kids

Research from the award winning Child Trust Fund provider has found 57% of parents of 18 to 30 year olds, say they have no choice but to retire later – with 43% expecting to work up to five years longer than they wanted because of the cost of their ‘adult’ children.

The news is worse for 9.3% of parents who believe they will now be forced to work over a decade longer with some abandoning the dream of retiring altogether.

Initially, 75% of parents planned to retire before they reached 65; now 40% have accepted the fact that they will not retire before the ‘official’ retirement age.

These stark figures show that 79% of parents claim their ability to save for their retirement has been impacted by the unplanned financial support being needed by their offspring – with a third of those (32%) suggesting it has been significant.

David White, Chief Executive at The Children’s Mutual said; “Worryingly, the number of parents getting caught in this middle age parent trap will almost certainly continue to rise – however parents of today’s youngsters can start to plan financially from the outset of having children and in so doing extricate themselves from this cycle.

“It’s clear that the concept of a retirement age will become increasingly fluid and for some it might even become totally irrelevant. It is imperative that we empower parents of today’s youngsters to ensure that their retirement dreams and the hopes for their offspring are not compromised. Investing in Child Trust Funds or other long term savings vehicle from the outset is one way to help ensure that the keel remains even.”

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.

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The Children’s Mutual Reports Growth Of Parents Funding Their Adult Childre

The Children’s Mutual, a leading Child Trust Fund provider, has revealed that the cost of having adult children is hitting parents hard, with its new research showing they expect the cost of supporting an 18 to 30 year old to exceed £30,000. Their findings highlight the growth of a generation of Yuckies (Young Unwitting Costly Kids), with 93% of parents funding their adult children.

The Children's Mutual Reports Growth Of Parents Funding Their Adult Childre

Yet many of these parents haven’t planned for the costs and are putting their own financial futures on the line – 28% have either remortgaged or plan to remortgage to fund their Yuckie, with more than half of all parents borrowing to assist with costs.

The Children’s Mutual also found that it’s the Yuckies who are necessitating everyday purse tightening in families – two thirds of parents say they have had to or will reduce their day-to-day living costs to fund their adult child, from shopping more economically for food (28%), selling their cars (7%) and monitoring the use of heating and lighting at home (42%).

David White, Chief Executive of The Children’s Mutual, said: “These figures unveil the stark reality of the cost of being a parent. No longer does turning 18 mean financial independence – in fact 16% of parents questioned expected their child to remain financially dependent on them into their thirties and beyond.

“The families we questioned had just one message for parents whose children are still young – save, save, save. More than half agreed that if they’d have known when their child was born what they now know about the cost of having an adult child they would have saved more through the years, with just 13% having saved regularly in preparation. These figures give us a very clear warning – children aren’t financially independent at 18 and parents need to plan for this to save their whole family’s financial future.”

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.

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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.”

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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.

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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.

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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.

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The Children’s Mutual Launches What I Want To Be Webmercial

The Children’s Mutual, a leading Child Trust Fund provider, has captured the career aspirations of kids in the UK in its new webmercial and microsite.

Dressed to reflect the most popular career choices, babies from seven to 11 months are seen acting out different job roles in the 50 second web ad.

The What I Want To Be webmercial was prompted by research from The Children’s Mutual into the dream jobs of the nation’s children entitled What I Want To Be. Every year the research tracks the career aspirations of children as they grow up, to explore how social and economic factors might affect their ultimate career choices.

The brains behind the ad, Head of Online at The Children’s Mutual and dad of one, Nathan King said: “We wanted to engage with a new generation of parents who enjoy and respond to online media. We understand families and their desire to help their children fulfil their ambitions. So while the ad and microsite are a lot of fun our products support parents in helping their children to reach their goals.”

The project isn’t the first time The Children’s Mutual has broken new ground as a CTF provider. The family finance specialist also created the first branded CTF TV advert encouraging parents to save for their children as well as a recently launched animated guide to the Child Trust Fund. The webmercial and CTF microsite now form part of the company’s evolving social media engagement strategy.

According to King: “Personal finance is very few people’s favourite subject but it is a crucial part of daily life. As a family finance specialist we want to try everything we can to help make saving and planning for the future as engaging and straightforward as it can be.”

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.

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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.

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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.”

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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.

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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.

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The Most Popular Baby Names In The UK Revealed By The Children’s Mutual

According to research by The Children’s Mutual, leading Child Trust Fund (CTF) provider, Jack and Olivia have maintained their position as the most popular baby names in the UK for a second year.

Jack leads the pack at the head of the Top 10 boys’ names, which have remained the same for the past two years. However, a review of almost 150,000 new CTF account holder names revealed that the girls’ names are more imaginative, varied and less traditional than the boys’ names.

With newcomers Amelia and Evie entering the list this year, the Top 10 girls’ names has had new entrants for the last three years despite Olivia clinching the top spot for the last two. Ava, Freya and Isabelle have entered the Top 20 for the first time. However in contrast, there have been falls for Grace, Lucy, Katie and Megan during 2009.

Within the top boys’ names there are some signs of influence from celebrity names, with Lewis racing into the Top 20 and both princes’ names, William and Harry, staying in the Top 10. Harry Potter also appears to have had some influence, with Harry and leading actor Daniel Radcliffe’s first name both having moved up the chart.

Tony Anderson, Marketing Director at The Children’s Mutual, said: “We’ve had lots of new children on our books in the past 12 months, with almost 150,000 new accounts opened, and it’s always interesting to see how the trends in babies names change each year. We realise that choosing a name can be daunting for parents as they want to give their child the best start in life.

“As well as the choice of name, parents should also be considering their child’s future and how they plan to save for important milestones such as university or a first car. If parents top up their child’s CTF monthly by £24 – the average amount saved by customers – these 2009 babies could receive a lump sum of over £9,750 when they reach 18.”

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children. Each eligible child (born on or after 1 September 2002) receives a £250 (£500 for low income families) Child Trust Fund voucher 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 potentially a third in the child’s teenage years.

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The Cost Of University For This Year’s Recent A-Level Graduates Could Be As High As £25 Billion – Almost £3 Billion More Than Last Year

The Children’s Mutual has reported the cost of university for this year’s recent A-level graduates could be as high as £25 billion – almost £3 billion more than last year. The Children’s Mutual warns that thousands of young adults celebrating their A-Level results and their parents may remain unaware of this rising cost.

The Cost Of University For This Year’s Recent A-Level Graduates Could Be As High As £25 Billion - Almost £3 Billion More Than Last Year

According to the leading Child Trust Fund provider, the average student needs to find about £42,000 to fund three years at university, but this doesn’t take into account the costs of any further training they might want to do after their degree. Currently 87% of young people in the UK are receiving financial help from their parents and help towards university costs is something many students expect and parents expect to give*. Increases in year-on-year university costs also mean this bill will rise in future years.

One way parents of future scholars can help mitigate the rising costs is by saving regularly from when their children are very small. The Child Trust Fund (CTF) was created by the Government to provide every eligible child with a nest egg when they turn 18, with parents, friends and family all encouraged to help save. Launched in 2002, more than 4.4 million children now have a CTF account. Topping up a child’s CTF on a monthly basis could result in a significant lump sum when the child turns 18, perfect for helping with university costs.

David White, Chief Executive of The Children’s Mutual, said: “University can be as much of a millstone as it is a milestone. While parents will be pleased about their children’s successes as they receive their A-level results and many look forward to university, the high costs involved can be a real financial strain to a huge number of students and their parents. For families planning to support their children through university, finding a lump sum to cover the costs can be very difficult. Often, parents are left with no other option but to dip into their savings or remortgage their house. This can have a serious impact on their own financial future.

“From 2020 all 18 year-olds will have access to their maturing Child Trust Funds as they enter adulthood and the money saved in these could make a real difference to both future university students and their parents.”

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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.

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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.

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