child trust fund

If you are the parent or legal guardian of a child whose child trust fund has been allocated to Engage Mutual then you will need to apply to become the registered contact in order to manage your child's CTF.  To do so you must be over the age of 16 and have ‘parental responsibility’ for the child.  The Registered Contact will be the main point of contact until the child reaches the age of 16.

If you would like to become the Registered Contact simply complete our online application or call our UK based customer service team FREE on 0800 169 4321†and we will be happy to set this up for you over the phone.

Further information on managing your child's CTF can be found in our existing customer area.

Anyone can contribute to a child trust fund but the combined total of all contributions must not exceed £3,600 each subscription year. A subscription year runs from your child's birthday to the day before their next birthday. Contributions from the government don’t count towards the yearly limit.

The child trust fund from Engage Mutual accepts payments from as little as £5 and we have a number of different payment methods to choose from.

No, once a contribution is made, it belongs to the child and cannot be refunded to the person that paid it in. The child will only be able to access the money when they reach 18.

Our child trust fund is a stock market based account that aims to achieve long term capital growth, whilst spreading the investment risk by investing in shares across a range of companies listed on the FTSE 100 index.  However, as with most stock market based investments the value can fall as well as rise and your child could get back less than has been paid in.

As it is a stakeholder Child Trust Fund account, 'lifestyling' will automatically apply unless you tell us otherwise.

Lifestyling helps to manage the risk of the investment and means that when your child turns 13 the money invested will gradually move from a fund which is medium to high risk to a fund which is medium to low risk. From your child's 17th birthday onwards all of the investment will be in a medium to low risk fund. Read more about lifestyling and how the account works. 

Just an annual management charge of 1.5% of the fund’s value, that’s guaranteed not to rise for the life of the child trust fund account. 

The 1.5% is deducted directly from the fund, not from the account. We calculate the charge daily on the value of the entire investment fund. The charge is then deducted on a daily basis from the fund's income and is reflected in the unit price.

The Government has made a number of changes to Child Trust Funds (CTF’s).  Contributions at birth have been reduced to £50, all contributions at age 7 have been stopped and children born on or after 03 January 2011 are no longer eligible for a CTF.

You can still make additional payments into existing accounts until the child’s 18th birthday. To see how these changes may affect you or to answer any questions you may have, please visit the HMRC child trust fund website.

If you’ve visited the HMRC website and you have further questions please contact us on 0800 169 4321†and we will be happy to help in anyway we can.

If you have a child who does not have a child trust fund, but you would like to save on their behalf, you may wish to take a look at junior easy save, Engage Mutual’s tax exempt savings plan for younger children.

No.

Anyone can pay into the account as long as the combined total of all contributions does not exceed £3,600 per subscription year. A subscription year runs from your child's birthday to the day before their next birthday. Contributions from the government don’t count towards the yearly limit.

The minimum contribution to a child trust fund from Engage Mutual is £5. When a contribution has been made it belongs to the child and can’t be returned to the payer.

If your child was born before 1st September 2002 they don't qualify for a child trust fund account but that doesn't stop you from saving for their future. We also offer a child savings plan which is available for any child who hasn't used their friendly society tax exempt allowance. Start saving for them now with junior easy save.

If your child was born on or after 03 January 2011 they no longer qualify for a child trust fund account but that doesn't stop you from saving for their future. We also offer a child savings account which is available for any child who hasn't used their tax exempt allowance. Start saving for them now with junior easy save.

They cannot access it until they reach 18.

You may want to consider the junior easy save plan which allows you to save up to £25 a month or £270 a year for a child for a minimum of 10 years. 

The child's tax-free cash lump sum payout at the age of 18 will depend on the investment performance and cannot be guaranteed. The value of the child trust fund can fall as well as rise and the child may get back less than has been paid in. Please refer to 'risk factors' in the Key Features document for more information.

We are in the process of changing the timing of our statements and we will soon be sending all statements in one batch, rather than around your child's birthday.  You will continue to receive an annual statement if the value of the CTF is £300 or more, or if any subscriptions have been made within the last statement period.  If the value of the CTF is under £300 or if no subscriptions have been made in the last statement period, you will only receive a statement following the child's 4th, 10th and 15th birthday.  However, a statement is available on request at any time for all account holders.

 

To inform us of a change of address you must provide us with the following information:

• name of child

• name of registered contact

• account number

• previous address details

• new address details

To inform us in writing please send the above details to:

Child Trust Fund Department
Engage Mutual
Hornbeam Park Avenue
Harrogate
HG2 8XE

Alternatively, please call our UK based customer service team FREE on           0800 169 4321†