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For
Immediate Release: Thursday 13 November 2003
THE CHILD TRUST FUND - IMA'S NEW GUIDE
TO THE GOVERNMENT'S SAVING AND INVESTMENT INITIATIVE FOR
CHILDREN
The need for a new financial initiative to encourage saving
and investment has never been more necessary. Financial
literacy is at an all time low and the move from state
pensions to personal provision means that people need
education in order to be able to better manage their
finances. With that in mind, the Government’s announcement
about the introduction of the Child Trust Fund is welcome
news.
In response, the IMA has produced a new
information sheet explaining
who is eligible for a Child Trust Fund account, the level of
contributions that can be made by the Government, parents,
guardians, family and friends, the types of account
available and how the accounts will work.
The information sheet is available together with the IMA’s
established fact sheet “Saving for Children”, which outlines
the options available for anyone thinking of starting to
save on behalf of children.
Richard Saunders, IMA Chief Executive, explains:
“The Child
Trust Fund account is an important savings and investment
initiative which will enable more people to access the
growth potential of the stock market. Coupled with
improved financial education, this will empower future
generations to take control of their own finances.”
-Ends-
For further
information please contact:
Helen Stephenson,
Communications Officer, IMA, 020 7831 0898
Selina Staines,
Communications Co-ordinator, IMA, 020
7831 0898
Notes to
Editors:
IMA publishes a
number of useful fact sheets to help savers understand unit
trust and OEIC investment.
All of IMA’s publications can be
obtained free of charge by calling the Unit Trust
Information Service on 020 8207 1361 or by visiting
the IMA’s website at
www.investmentuk.org
65
Kingsway London WC2B 6TD
Tel:
+44 (0) 20 7831 0898 Fax:+44 (0) 20 7831 9975
www.investmentuk.org
Investment
Management Association is a company limited by guarantee
registered in England and Wales Registered number 4343737.
Registered office as above.
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