About this online workshop
Duration: 2 hours
Child Trust Funds (CTF) were launched in January 2005 for all children born from September 2002 with an initial investment £250 provided by the Government. They were closed to new business on 2 January 2011 where they were replaced by Junior ISAs. The aim of these products was to give all children a start in life and the opportunity save a sum for when they reach 18. Some 6.1M accounts were opened with a current average value of £1500 each.
The first CTFs reach maturity in September this year and the industry needs to be prepared to make contact with the account holders, establish maturity processes and handle account instructions as appropriate, all within the regulations currently being laid.
This two hour online workshop will provide details of the regulations pertaining to CTF maturities, outline processes and reporting requirements to enable a successful administration. It will also cover the options on how a matured CTF will remain protected whilst waiting for instructions from the account holder.