engage press releases

December 2005


The free Christmas present worth four of Hamley’s top festive toys

They’re free of charge and as valuable as Hamley’s top four Christmas toys, so engage Mutual Assurance is urging parents to claim their child’s before the Christmas rush – yes, it’s the Child Trust Fund (CTF) voucher.

The shopping list for Hamley’s festive line up features Roboraptor (£89.99), Tyco’s Cyber Shocker (£74.99), Steam Along Thomas (£49.99) and the Darth Vader Voice Changer (£39.99)- totalling £254.96.

That’s just £4 over the Government’s minimum Child Trust Fund voucher, which is £250; the upper voucher of £500 is worth £108.09 more than the cost of the top ten toys put together.

Amidst claims that the Child Trust Fund scheme is failing, engage has seen an increase in Child Trust Fund applications, boosted by the Government’s recent advertising campaign. Between September 05 and November 05, CTF applications increased by 24.19% and engage is helping families on lower incomes to save more regularly, with a low minimum investment of £5.

50%** of engage CTF customers make regular contributions to their accounts – nearly double the average of those surveyed of 26%†, according to independent research earlier this year from BDRC.

engage is calling for further Government initiatives to raise awareness of the CTF and welcomes the pre-budget proposals for payments at age seven. Karl Elliott, Child Saving Strategist at engage commented:-

“It appears the Government advertising campaign is reviving awareness of the scheme. As the back-log of vouchers issued to eligible children pre-launch decreases, we would expect to see a gradual levelling off of applications, but this recent peak of activity proves the value of reminding people to invest their child’s CTF voucher”.

“Christmas is the ideal time to remind people to do this as most families with eligible children will be thinking about money to spend on toys, but they’re forgetting the free money lying unclaimed from their CTF voucher. While children may lose interest in most toys by boxing day, investing the CTF voucher could benefit them for years to come.”

-ENDS-

CTF Notes

  • engage offers one of the lowest minimum contribution levels of just £5
  • 50% of engage’s CTF customers make regular payments direct from their bank accounts, compared with 26% survey average†
  • engage offers the Child Trust Fund via partners including ASDA, Yorkshire Building Society, Debenhams, Skipton and NAAFI Financial, among others

*http://www.hamleys.com/icat/topxmasto

**engage Mutual Assurance MIS

† BDRC Syndicated Survey Wave 6 Jan – Jun 2005. Objectives: to establish parental awareness of the CTF, patterns of registration behaviour, savings intentions, account opening intentions and use of CTF funds.

Average Number Of Applications Per Month

Zoe Bowett PR Manager 01423 855 315 07957 434 504

zoe.bowett@engagemutual.com

NOTES TO EDITOR

(1) Homeowners Investment Fund Managers Limited is a provider of the Child Trust Fund.

(2) engage Mutual Assurance is a trading style of Homeowners Friendly Society (HFSL) and it’s wholly-owned subsidiary Homeowners Investment Fund Managers Limited (HIFML).

(3) The organisation is also the primary sponsor of the Rugby Super League – now renamed engage Super League.

(4) engage Mutual Assurance is also headline sponsor of the engage International Open 2005, part of the World Bowls Tour.

(5) Established in 1980, Homeowners Friendly Society Limited (HFSL) is Registered and Incorporated under the Friendly Societies Act 1992, Reg.No.964F, it’s wholly owned subsidiary Homeowners Investment Fund Managers Limited (HIFML) is Registered in England No 3224780. Both are authorised and regulated by the Financial Services Authority (FSA). Homeowners Friendly Society Limited's FSA Register number is 110072, and Homeowners Investment Fund Managers Limited's FSA Register number is 181487. You can check this on the FSA's Register by visiting the FSA's website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234


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