Child Trust Fund Vouchers

[Hels]

How long does it usually take before you receive your voucher? We're getting the family allowance, and I know you've got to register for that in order to get the voucher. That was about six weeks ago, but we haven't got the voucher through yet.

 

Also, has anyone got any good recommendations on where to invest it?

[cosywolf]

I can't remember how long it took for us to get our voucher (sorry, cosycub's voucher, lol) but I wouldn't hesitate to ring and check if you can find a number, if you get concerned.

 

I invested cosycub's with Co-operative Bank's financial group, is it CIS? Guaranteed ethical investments only, and I went for middling risky rather than safe, and he's done fabulously well so far - I'm very impressed with them.

If you don't get their leaflet with all the other bumpf you end up with from Bounty packs, pop into the Co-op bank, or you might be able to get a leaflet from the Post Office.

 

I know Boots give you a good rate on points, and vouchers, as do lots of people, but I had a hippy moment and decided I wanted to build his future on ethical grounds, so didn't get any free gifts except a booster of self-righteousness, lol.

 

Good luck, whatever you decide.

[Hels]

I quite like the idea of the co-op's ethical banking, i'll get hold of a leaflet. Think i'll give them one more week then phone up about the voucher. The sooner it's invested the sooner it can start earning more money (hopefully)!

[psyn]

I second Cosywolf's Co-Op recommendation. I didn't really look at the return but did want ethical banking.

[babychickens]

Hels,

Lily's child trust fund voucher turned up about a week ago - it takes about 8 weeks from the first child benefit payment you receive (8 weeks from the payment, not the application). I was worried about where mine had gone, too, so rang the people up about it.

 

it's on it's way, don't worry!

 

babychickensx

[Hels]

Aw thanks babychickens, we've got a few weeks before we can expect it then.

[Zebra]

Ours took the same amount, around 8 weeks after payment.

Invested ours with our normal bank, mostly because we don't have any faith in it. Martin Lewis, the money guru did a programme which showed that an ISA is far superior and guaranteed. So we put their payment into our banks trust fund account and opened high interest accounts for each of them instead, once they can legally access the money I shall encourage them to transfer it to a high interest account until they are 18.

It's worth working out the stats and look for the accounts which guarantee that the money will be there and not at a loss in 16 years, it is possible tragically.

[ANDIM68]

Sorry to drag an old thread up!!

I have my voucher but haven`t a clue what to invest it in My heart is telling me to go for the simple gain a little interest safe option! but should I go for the one, where it`s invested in shares? How do you know what shares are being invested in? I haven`t a clue what to do with it investment wise. I never had this problem with my other children. I have no one to discuss this with,so any views will be appreciated, I may have this all wrong, and misunderstood how it all works altogether so if anyone can advise please do.

[Zebra]

We came to the conclusion that we didn't have enough faith in them to invest enormously so maybe it depends if you plan to add to it?

We won't, we opened seperate savings accounts for our girls instead and we put money in there, the trust fund account is low interest but safe and now we'll ignore it until they're 16.

Their savings account is for children anyway so it should be better in the long run IMO.

Don't apologise for renewing an old thread - it's good that you looked for it:)

[babychickens]

my feelings - go for an ethical one (like the co-op option), that way you don't have to worry about funding tobacco/defence/pharmaceuticals. the returns on a ctf voucher are small enough that what you invest in probably won't make a huge difference to the final value of the ctf (unless you add your tax-allowed £1200 per year, also, in which case it might make £1000s difference).

 

you should review the ctf every few years - remember that when you move the fund, you can only move it to another ctf, and some come with incentives (£20 mothercare voucher, for instance) - make the most of them, too. there are currently no stats available to show with ctfs are the most successful, as the scheme hasn't been running long enough yet, but hopefully there should be some figures within the next year or two.

 

be wary of 'lifestyling' - this is where your child's share-based ctf is moved (by the investment company) to 'safe' (ie less likely to decrease in value, but also less likely to increase much) investments when the child reaches 13. personally i would run the risk of losing some ctf value and not take the lifestyling option.