Budget 2013: CTF investors could be £7,500 better off

clock

Plans to allow "zombie" child trust funds (CTFs) to be switched to Junior ISAs could see savers £7,500 better off.

Chancellor George Osborne announced a consultation into allowing CTFs to be transferred to Junior ISAs during his fourth Budget statement today. The move is expected to unlock £4.8bn in CTFs CTFs have been suffering from limited choice and higher charges on investments, as well as lower rates for cash savings for more than two years now. The situation has been getting worse, with a number of providers raising fees in recent months, according to Darius McDermott, managing director of Chelsea Financial Services. "Over the course of 18 years, the initial charge on investment CTFs alone c...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Autumn Budget 24: Non-dom status abolished from April 2025

Autumn Budget 24: Non-dom status abolished from April 2025

Non-dom regime 'outdated', Reeves said

clock 30 October 2024 • 3 min read
Partner Insight: Is it time to reallocate to real estate?

Partner Insight: Is it time to reallocate to real estate?

Global real estate returns turned positive in the second quarter following two years of cumulative losses, suggesting a budding recovery in the asset class.

Donald Hall, Global Head of Research, Real Estate, Nuveen
clock 30 October 2024 • 2 min read
Partner Insight: Adding return and lowering risk with private assets

Partner Insight: Adding return and lowering risk with private assets

Duncan Lamont, Head of Strategic Research at Schroders, discusses the potential benefits of investing in private assets.

Duncan Lamont, CFA Head of Strategic Research, Schroders
clock 30 October 2024 • 3 min read
Trustpilot