PIMA welcome additional CTF contributions by the Government
The Chancellor’s announcement today of additional contributions by the Government to children holding CTFs when they reach age 7 is welcomed by PIMA, the leading trade body on the Child Trust Fund.
By adding these funds at a crucial time, not only will the child’s fund grow, but it is likely this will prompt a review of the investments contained within it.
Tony Vine-Lott, director- general of PIMA, said:
[i]‘We applaud the Treasury’s decision to invest additional funds in the CTF at age 7. This shows the Government’s ongoing commitment to invigorating the savings culture and financial capability. PIMA and its members will work with the Government to ensure that this additional contribution is maximised.’[/i]
For more information:
Tony Vine-Lott, Director-General, PIMA
07790 006108
Iain Anderson or Jacob Coy, Cicero Consulting
020 7665 9535
078 8619 7086