If you haven't seen the news today - then you might not be aware that as of the 1st August Child Trust Funds will change. You will now only receive £50 or £100 (if a low income family) and from January 2011 they will cease to exist completely.
The extra payment of £250 at 7 years old will also stop.
Now apparently this won't affect your savings account but the interest received will never reach above 3% a year.
If you have a stakeholder account then these will probably not be managed as well as they have been in the past.
I will look into this abit more and find some more information and post soon!
Tuesday, 1 June 2010
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