child trust fund

[melhoney]

I just heard about this, that the GVT gives £250 for each child?? How do you get it?

mel xx

 

[hearts81]

you get it sent to you sometime after you've had your baby registered. Mine was about 5 weeks later.

 

[melhoney]

I see!!!!!!!! well, I have registered Maheen when she was 10 days old, and she is now close to 2 months old, and I have received nothing!!!!
What can I do to check if it's on my way? who could I contact?

Mel xx

 

[BubbleOne]

Have you applied for Child Benefit? Your Trust Fund Voucher should be sent to you a few weeks after you apply for Child Benefit?

 

[melhoney]

no I haven't because there is no way that we are elligible for it

I am a full time teacher with responsabilities and my husband is the ICT tech in the same school! Though we earn alright, we have a big mortgage to pay and other stuff, as everybody else, and we earn just above what the limit is...which means I will struggle as much but get no help!
(between childcare and mortgage, my full salary is gone!)

so that's why I haven't applied for it! did not know these £250 were dependent on that as well!
I just don't get anything at all to help me then! grrrrrrrr!

mel xx

 

[Dee1985]

Dior is now 13months and i aint bothered with her trust fund, is it to late now?

 

[lucylou]

Melhoney, everybody with a child is entitled to child benefit, it's a family allowance of £17 a week, you should have got a form about it in your hospital pack. See below for more info:

http://www.direct.gov.uk/Parents/YourMo ... chk=8zDeix

Everybody is entitled to the £250 government cheque as well as long as there child was born after sept 2002 (I think that's the date) so Dionne you should get this, if you haven't put it into an account I think they automatically allocate it into an account for you, may be worth checking this out?

X

 

[Dee1985]

yh i did get it, i just egnored it

 

[lucylou]

We haven't done anything with ours yet, we just keep forgetting but I want to open an account for Charlie and put money in each month so that he has a lump sum when he's 18 or 21, we got given loads of money when he was born as well which we need to put in, he's richer then us!

I think you should check where Dior's money has been allocated, I'm sure that's what I read. They give you another amount when there 7 I think.

x

 

[melhoney]

Thanks for that Lucy!!!

Nobody ever mentioned it to me, I just received an advert for the £250 and what to do with it.
No bounty pack either, so!!! that's why!
I am going to apply just now, then! something to look forward to! every little thing help!
Thanks again, Lucy!
mel xx

 

[BubbleOne]

Dionne you have a year to open the account so I guess you have missed out.

It's a shame because all you have to do is open a Trust Fund Account and even if you ignore it until they're 18 they will still get about 3,000.

 

[michelle82]

I opened matthew an account at halifax loads of places offer it. But we're not likely to pay much into it as what you pay in you cant get back out and he automatically gets access to it when he's 18 and what if he's a little bugger and would just waste it!!? we are going to open a savings account in our names and put all the money in there that way we can give him money when we feel he will spend it responsibly.

 

[Dee1985]

Dionne you have a year to open the account so I guess you have missed out.

It's a shame because all you have to do is open a Trust Fund Account and even if you ignore it until they're 18 they will still get about 3,000.

im a bad mummy!!!!!

feel bad now, im terrible for putting every thing of untill tomorrow 13months later im stillsaying "tomorrow"

 

[Sarah&Braydon]

i thought the goverment decided were to put instead if u decidin after 1 yrs that wot my form sed

 

[Dee1985]

i hope so cuz im feeling terrible, if iv lost out il have to make it up to Dior in a savings account or something

 

[Sarah&Braydon]

id find out about it asap
do u have the formz

 

[Sarah&Braydon]

i was rite it says this on there

If you miss the expiry date your child won't lose out on the CTF, as HM Revenue & Customs will open a CTF account for your child

http://www.childtrustfund.gov.uk/templa ... _1238.aspx

hope thus helps u feel betta

 

[*saulino*]

Hi

we havent done it yet either had someone come to our house to explain everything and said we can do it when ever we like.
Katrina

 

[Fee]

I think the government have made the CTF difficult with lots of complications deliberately so people don't apply for it. I have looked into it and everyone is entitled - you will get your voucher after applying for family allowance. There are restrictions on where you can invest it and in what type of account. you can add money to it but no more than £750 a year the best interest rate i could get on it was 4%. I spoke with a financial advisor and decided that the best way to do it was to open an account for the voucher and just leave it gathering interest until Amelia is 18 and add to it the further voucher they then get at about 7 years old. I have also opened a separate ISA for her in my name in which we pay a lump sum each month this way the interest rate is a lot higher. My advice is don't waste it because with both payments it is £500 plus interest for your little one when they get to 18 even if you don't add anything to it. Most banks will open you an account with them. if you are confused take your voucher with you and speak to someone at your bank.