Kids get free health insurance when parents take out a policy with Tesco Personal Finance
13 December 2007
Families across the UK missing out on more than £12.5 million by not investing Child Trust Fund Vouchers
Tesco launches Child Trust Fund in drive to encourage eligible parents to cash their vouchers
Tesco Personal Finance has launched a Child Trust Fund account so that people will find it easier to save for their children’s future. According to a report issued by the Government last month, 98% of parents who are eligible to take part in the Government scheme are aware of the benefits of opening a Child Trust Fund account. Yet, around a quarter of those families have still to open an account and invest their child’s voucher.
Jeremy Sutton, Head of Tesco Savings commented: “We know from this Government research that over 50,000 families have yet to claim their share of the £12.5 million plus in unclaimed vouchers. We want to make it easier for our customers to benefit from this scheme. By offering a Child Trust Fund and by promoting it in-store, we hope to raise awareness among our customers so that they can ensure they are getting the benefits owed to them.”
The Child Trust Fund initiative was launched by the Government in 2005 to kick-start the savings of all children regardless of their family background. Babies born from September 2002 onwards will receive a voucher of either £250 or £500 at birth and another of the same amount at age seven. Parents can top up the account with up to £1200 each year completely tax-free.
Customers can find out more about how to open a Tesco Child Trust Fund account in-store, on our website at http://www.tescofinance.com or over the phone by calling 0800 051 1873.
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