PIMA WELCOMES THE BIRTH OF THE CHILD TRUST FUND
The immediate launch of the Child Trust Fund (CTF) will provide a major opportunity to get the savings habit firmly established with a new generation of savers, according to the PEP and ISA Managers Association.
The Chancellor’s decision to launch the CTF will also provide the savings industry with a much needed fillip while markets and general savings levels remain at a low ebb.
PIMA will be contributing to the Treasury’s consultation
Commenting on the Budget Statement, Tony Vine-Lott, PIMA Director General, said:
‘We are delighted the Chancellor has used this opportunity to progress with the launch of the Child Trust Fund. It is the major boost to savings that the industry and consumers have been looking for. We are also pleased the CTF will be open to all providers and like the ability for contributions to phased over the life of the fund. PIMA will be taking an active part in the consultation and will be meeting with the Treasury in coming weeks to progress.”