CTF surprise

We know that some parents decide to keep this as a surprise for their child and have been saving over the years. Although this is a perfect gift for your child, to help with university or to help with apprenticeships, towards a new home or even a new car, don’t let the surprise be spoilt by someone else.

Since September 2020 children who received a Child Trust Fund (CTF) have turned 18 and are able to have access to their funds. As more and more children start turning 18, your child will probably start to have a good idea about their savings and CTFs as a whole.

If they haven’t heard about it already from other children and school friends, when your child receives their National Insurance Number from HMRC, shortly before their 16th birthday, they will be provided with some information about the CTF. This information directs them to talk to you – so we wanted to let you know that:

1. The surprise could be let out the bag before you tell them

2. We have some information that may help with your child’s questions - visit our Child Trust Fund Hub. This dedicated CTF webpage explains what will happen to their savings account when they turn 18 and the options they will have available. This includes the choice to make further contributions into an ISA, access the money, or a mixture of the two.

Talking to your child about finance can be a tricky topic of conversation however your child may be receiving a fairly large sum on their 18th birthday, and it is very important to discuss their options with them.

As their parents you are their 'go to' for help and advice – hopefully the information on our CTF Hub will help answer some of their questions.

As their birthday draws nearer, please ensure the information we hold is up to date, in order for all communication sent to your child is hassle-free for when they turn 18.

If you have any further queries and want to discuss their CTF, you can contact our Customer Services team or arrange a meeting with one of our Financial Advisers.

Parents with son on the sofa who has a CTF with Foresters

Children's Savings Hub

If your child has a Child Trust Fund (CTF) or Junior ISA with Foresters Financial, learn more about what happens to their savings on their 18th birthday and how they can access the money.

Find out more
Piggy bank with graphics of university, car and house to show what you can save for

The Importance of Saving

Do you know the costs of some of our biggest milestones? What do you dream of saving for? Find out more about the costs of these milestones, from university, to owning a home.

Learn more about saving
What is a Child Trust Fund

How to tell them

We have some fun and creative ways to tell your child about their savings. Whether it's a Child Trust Fund or Junior ISA, we have some ideas to prepare you for the money talk with your child.

Read our article
Is your child considering university? Read our guide