The ASDA Child Trust Fund account
New CTF's
As the government recently announced the end of the Child Trust Fund (CTF) scheme, The Children’s Mutual are unfortunately no longer able to accept any new CTF applications through Asda.
To find out whether your baby is still eligible for a Child Trust Fund, here’s a summary of the details announced by the government:
- Babies born before 2nd August 2010 – your baby will qualify for £250 from the government to open a CTF account.
- Babies born from 2nd August to 31st December 2010 – your baby will qualify for £50 from the government to open a CTF account.
- Babies born from 1st January 2011 onwards – your baby will not qualify for a CTF.
If you have a CTF voucher for your child, or are eligible for one, you can still open a CTF account with The Children's Mutual directly, or you can visit the HM Revenue & Customs website where you’ll find a list of all CTF providers and distributors.
For more information on the latest changes to the Child Trust Fund, take a look at the HMRC's FAQs
Existing customers
If your child already has an Asda Child Trust Fund, their account will continue to run as normal. This means that:
- It will continue to benefit from tax efficient investment.
- Up to £1,200 a year can still be contributed.
- The CTF will continue to run until your child’s 18th birthday.
Your child is one of the fortunate children of this generation to have a Child Trust Fund and you can continue to make use of this tax efficient savings account until your child reaches 18, if you wish to.
It’s quick and easy to top-up your child’s CTF account online. Just click on the link below, which will take you through to the existing customer’s area on The Children’s Mutual website. Click here.
If you have any questions, click here.
