The Childrens Mutual reveals Dads are number one hero for kids

Tue, 29 Jun 2010 14:40:44 GMT

The Children's Mutual has revealed that Dads, and not footballers or pop stars, are the number one hero for kids aged between five and seven for the second year running.

The annual UK poll by The Childrens Mutual has revealed that although Dads have topped the list of heroes, mums will be disappointed as they have fallen from the number two spot last year, to number three in 2010.

However if Dads want to top the list again next year, they can't afford to rest on their laurels just yet. They face strong competition from fictional characters such as Ben 10, Spiderman and Hannah Montana. Interestingly, there are four new entries in the top 10 this year, with teachers coming in at number five, the ever-popular Cheryl Cole at number six and Granddad at number nine. Those to fall out of favour in 2010’s top 10 include Gabriella from High School Musical, Power Rangers, Dora the Explorer and Sporticus.

Tony Anderson, Marketing Director at The Children’s Mutual, said: "Since last year, Dads have continued to inspire their children and have held on to the top spot to be their number one hero. Dads have beaten off stiff competition from great fictional characters such as Doctor Who and Ben 10 which is a huge achievement."

Although Mums and Dads feature high on the separate lists of heroes for boys and girls, other entries vary greatly. Action heroes such as Batman, Spiderman and Power Rangers are all admired by boys along with footballer Steven Gerrard (the only footballer to make the top ten). Extended family is a high priority for girls with both Granddad and Grandma making into the top 10. But popular female stars reign with Hannah Montana taking top spot, followed by Cheryl Cole at number four and Gabriella from High School Musical at number six.

Launched in 2005, Child Trust Funds were designed to provide a tax efficient, long term savings for eligible children. Eligible newborn children (born on or after 1 September 2002) received a £250 Child Trust Fund voucher (£500 for low income families) from the government when their parents registered for Child Benefit. The government then makes a second contribution of £250 (£500 for low income families) when the child reaches seven. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year. The proposed changes to the CTF will mean that for existing customers the accounts remain as before, with an annual tax-efficient top up allowance of £1,200, albeit without the Government's additional contributions from 1 August 2010.

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Notes to editors:
Research from The Children’s Mutual and undertaken by BDRC during March 2010. 1200 parents of children aged between five and seven were polled.

About The Children's Mutual - Home of the Child Trust Fund
The Children's Mutual's mission is to help parents, grandparents, family and friends fulfil their hopes for today's children. The Children's Mutual is the only UK company that specialises in long term savings for children and is now the choice of one in four parents for their child's Child Trust Fund, with nearly 825,000 accounts. This expertise has led several financial institutions and family-focused high street retailers to choose The Children's Mutual as their stakeholder Child Trust Fund provider.

The Childrens Mutual reveals cost of top career aspirations set to soar

Thu, 17 Jun 2010 12:42:59 GMT

The Children's Mutual, the leading Child Trust Fund provider, has revealed new research* that suggests parents could be facing a bill in excess of £100,000 if their children grow up to fulfil their career ambitions.

The annual 'What I Want to Be' poll revealed that among five, six and seven year-olds, becoming a teacher, doctor or vet are the jobs of choice. The Childrens Mutual warned parents to start saving now as the latter two could cost £116,000 and £117,000 respectively in 18 years time.

Tony Anderson, Marketing Director of The Children's Mutual, said: "Parents tell us their young children are highly ambitious and that they, as parents, fully intend to help them fund their futures. But the sums of money the top careers command could cause financial nightmares for families who don't plan ahead. While the Coalition Government has announced its plan to significantly reduce payments into Child Trust Funds from 1 August 2010 and to abolish the scheme altogether for new babies born from 1 January 2011, the reality is that the cost of children's futures hasn’t changed. We believe that the only way for parents to financially manage these costs is by saving regularly over the long term and are urging them to continue doing so."

The Children's Mutual questioned over a thousand parents about what their children said they wanted to be when they grew up and found that the majority of today's children are looking for a career which requires further training and education. The top careers of doctor, teacher and vet have featured in the 'What I Want to Be' poll for the last three years, demonstrating that children consistently aspire to careers that will need higher education.

According to The Children's Mutual, 93% of parents of today's young adults are still funding their children, and the expert in long-term savings for children does not anticipate this changing. The Children's Mutual is urging parents to continue saving regularly over the long term rather than having to face finding such large sums of money in the future.

Launched in 2005, Child Trust Funds were designed to provide a tax efficient, long term savings vehicle for all eligible children. Eligible newborn children (born on or after 1 September 2002) received a £250 Child Trust Fund voucher (£500 for low income families) from the Government when their parents registered for Child Benefit. The Government then makes a second contribution of £250 (£500 for low income families) when the child reaches seven. Parents, family and friends can all then top up the CTF and add to this account up to a maximum value of £1,200 each year. The proposed changes to the CTF will mean that for existing customers the accounts remain as before, with an annual tax-efficient top up allowance of £1,200, albeit without the Government's additional contributions from 1 August 2010.

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Notes to editors
*The research from The Children’s Mutual was undertaken by BDRC during March 2010 and polled 1200 parents of children aged between five and seven

Further details can be found at: http://www.thechildrensmutual.co.uk/about-the-childrens-mutual/media-centre/2010-media-releases/bill-to-fund-a-childs-future.aspx

The Childrens Mutual finds parents of younger children being warned to start saving

Wed, 02 Jun 2010 15:40:34 GMT

According to research by The Children's Mutual, a leading Child Trust Fund provider, parents of 18 to 30-year-olds are warning families of younger children to start saving now to fund the future, with nearly a 28% saying that they have either remortgaged or are planning to remortgage to fund their child's adulthood. The research also revealed that many parents of adult children said that if they had their time again they would have saved more.

As the coalition Government threatens to cut the Child Trust Fund (CTF), The Children's Mutual is urging parents whose children are eligible for the accounts to make the most of them while they can.

David White, Chief Executive of The Childrens Mutual, said: "Saving for your child is a 'necessity' not a 'nice-to-have'. Parents of today's 18 to 30-year-olds are having to find an average of £30,000 to fund their adult children the hard way - by remortgaging or borrowing further. We believe the only way that most families will be able to help fund children to fulfil their potential going forward is by saving regularly over the long term."

Parents of CTF holding children should not be disheartened or confused by the coalition's proposal. The Government has confirmed that for existing customers, the accounts will remain as they are; meaning that the families of the five million CTF holding children across the UK can continue to save up to £1,200 a year tax efficiently to help give their child a much needed springboard into adulthood.

David White continued, "We believe that children stand the best chance of fulfilling their potential if money isn't an insurmountable barrier to their choices and decisions. The CTF has been a phenomenal success with families investing more than £5 million every week for their children and we urge parents to make the most of it."

Launched in 2005, Child Trust Funds were designed to provide a tax efficient, long term savings vehicle for all eligible children. Eligible newborn children (born on or after 1 September 2002) received a £250 Child Trust Fund voucher (£500 for low income families) from the government when their parents registered for Child Benefit. The government then makes a second contribution of £250 (£500 for low income families) when the child reaches seven. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year. The proposed changes to the CTF will mean that for existing customers the accounts remain as before, with an annual tax-efficient top up allowance of £1,200, albeit without the Government's additional contributions from 1 August 2010.

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Notes to editors
Research from The Children's Mutual Cost of Children Report. Figures from TISA, workings available on request.

Further information on the changes to Child Trust Funds can be found on The Children's Mutual website.

About The Children's Mutual - Home of the Child Trust Fund
The Children's Mutual's mission is to help parents, grandparents, family and friends fulfil their hopes for today's children. The Children's Mutual is the only UK company that specialises in long term savings for children and is now the choice of one in four parents for their child's Child Trust Fund, with over 800,000 accounts. This expertise has led several financial institutions and famil

The Childrens Mutual reports saving for children is still crucial

Wed, 02 Jun 2010 10:21:33 GMT

The Children's Mutual, a leading Child Trust Fund provider, reports that saving for children is crucial and urges the 5 million families whose children hold Child Trust Fund (CTF) accounts to continue saving for their children into CTFs.

David White, Chief Executive of The Childrens Mutual, said: "The CTF has changed the nation's savings habits and we congratulate families across the UK for recognising the critical importance of saving for their children's futures."

According to The Children's Mutual, today's parents are paying out an average of £30,000 to fund their children between the ages of 18 to 30 and these costs are only expected to rise for families of tomorrow.

The Children's Mutual urges families to not be disheartened by the Government's announcement to stop all payments to Child Trust Funds by January 2011, but to continue to help their children fulfil their future potential by saving regularly over the long term. CTF holding children now have a unique asset that others will not.

The Children's Mutual also revealed that the Child Trust Fund is the single most successful savings policy to date and that this sort of short term cut does not address the pressing need for families to save or recognise the significant benefit to society that the CTF will bring from 2020 as maturing funds return an anticipated £2.96bn each year to the economy.

David White continued: "We also reassure our current and existing customers that having been in existence for the last 129 years, we have been providing long-term savings accounts for children and helping support families throughout our history. We are committed to continuing to do so in the future."

Launched in 2005, Child Trust Funds were designed to provide a tax efficient, long term savings vehicle for all eligible children. Newborn children (born on or after 1 September 2002) received a £250 Child Trust Fund voucher (£500 for low income families) from the government when their parents registered for Child Benefit. The government then makes a second contribution of £250 (£500 for low income families) when the child reaches seven. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year. The proposed changes to the CTF will mean that for existing customers the accounts remain as before, with an annual tax-efficient top up allowance of £1,200, albeit without government's additional contributions from 1 August 2010.

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Notes to editors
Findings are from The Children's Mutual and HMRC quarterly stats. Workings are available on request.

About The Children's Mutual - Home of the Child Trust Fund
The Children's Mutual's mission is to help parents, grandparents, family and friends fulfil their hopes for today's children. The Children's Mutual is the only UK company that specialises in long term savings for children and is now the choice of one in four parents for their child's Child Trust Fund, with over 800,000 accounts. This expertise has led several financial institutions and family-focused high street retailers to choose The Children's Mutual as their stakeholder Child Trust Fund provider.

The Childrens Mutual reports early retirement threatened due to costly kids

Tue, 16 Mar 2010 15:55:36 GMT

The Children's Mutual, a leading Child Trust Fund provider, has revealed that millions of parents in Britain are being forced to postpone their retirement to meet the rapidly rising financial burden of supporting their adult children.

Research from the award winning Child Trust Fund provider has found 57% of parents of 18 to 30 year olds, say they have no choice but to retire later - with 43% expecting to work up to five years longer than they wanted because of the cost of their 'adult' children.

The news is worse for 9.3% of parents who believe they will now be forced to work over a decade longer with some abandoning the dream of retiring altogether.

Initially, 75% of parents planned to retire before they reached 65; now 40% have accepted the fact that they will not retire before the 'official' retirement age.

These stark figures show that 79% of parents claim their ability to save for their retirement has been impacted by the unplanned financial support being needed by their offspring - with a third of those (32%) suggesting it has been significant.

David White, Chief Executive at The Children's Mutual said; "Worryingly, the number of parents getting caught in this middle age parent trap will almost certainly continue to rise - however parents of today's youngsters can start to plan financially from the outset of having children and in so doing extricate themselves from this cycle.

"It's clear that the concept of a retirement age will become increasingly fluid and for some it might even become totally irrelevant. It is imperative that we empower parents of today's youngsters to ensure that their retirement dreams and the hopes for their offspring are not compromised. Investing in Child Trust Funds or other long term savings vehicle from the outset is one way to help ensure that the keel remains even."

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children. Each eligible newborn child (born on or after 1 September 2002) receives a £250 Child Trust Fund voucher (£500 for low income families) from the government when their parents register for Child Benefit. The government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child's teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year.

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Notes to editors:
Research from The Children's Mutual was undertaken by 72 Point during January 2010 and polled 1,484 parents of children aged 18 and over.

About The Children's Mutual - Home of the Child Trust Fund
The Children's Mutual's mission is to help parents, grandparents, family and friends fulfil their hopes for today's children. The Children's Mutual is the only UK company that specialises in long term savings for children and is now the choice of one in four parents for their child's Child Trust Fund, with more than 775,000 accounts. This expertise has led several financial institutions and family-focused high street retailers to choose The Children's Mutual as their stakeholder Child Trust Fund provider.

The Childrens Mutual reports growth of parents funding their adult children

Fri, 19 Feb 2010 12:14:50 GMT

The Children's Mutual, a leading Child Trust Fund provider, has revealed that the cost of having adult children is hitting parents hard, with its new research showing they expect the cost of supporting an 18 to 30 year old to exceed £30,000. Their findings highlight the growth of a generation of Yuckies (Young Unwitting Costly Kids), with 93% of parents funding their adult children.

Yet many of these parents haven't planned for the costs and are putting their own financial futures on the line - 28% have either remortgaged or plan to remortgage to fund their Yuckie, with more than half of all parents borrowing to assist with costs.

The Children's Mutual also found that it's the Yuckies who are necessitating everyday purse tightening in families - two thirds of parents say they have had to or will reduce their day-to-day living costs to fund their adult child, from shopping more economically for food (28%), selling their cars (7%) and monitoring the use of heating and lighting at home (42%).

David White, Chief Executive of The Children's Mutual, said: "These figures unveil the stark reality of the cost of being a parent. No longer does turning 18 mean financial independence - in fact 16% of parents questioned expected their child to remain financially dependent on them into their thirties and beyond.

"The families we questioned had just one message for parents whose children are still young - save, save, save. More than half agreed that if they'd have known when their child was born what they now know about the cost of having an adult child they would have saved more through the years, with just 13% having saved regularly in preparation. These figures give us a very clear warning - children aren't financially independent at 18 and parents need to plan for this to save their whole family's financial future."

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Notes to editors
Research from The Children's Mutual research was undertaken by 72 Point during January 2010 and polled 1,484 parents of children aged 18 and over.

About The Children's Mutual - Home of the Child Trust Fund
The Children's Mutual's mission is to help parents, grandparents, family and friends fulfil their hopes for today's children. The Children's Mutual is the only UK company that specialises in long term savings for children and is now the choice of one in four parents for their child's Child Trust Fund, with more than 750,000 accounts. This expertise has led several financial institutions and family-focused high street retailers to choose The Children's Mutual as their stakeholder Child Trust Fund provider.

The Childrens Mutual reports parents persist in saving

Fri, 29 Jan 2010 14:36:43 GMT

The Children's Mutual, a leading Child Trust Fund provider, has reported that the latest figures from HM Revenue and Customs (HMRC) show that parents are persisting in saving for their children and engaging with the Child Trust Fund.

The new quarterly Child Trust Fund statistics released by the HMRC have revealed that nearly three quarters of all Child Trust Funds (CTFs) are proactively opened within a year of a child's birth. However, according to a new analysis from The Children's Mutual, this figure only tells part of the story of parents' engagement with saving for their children.

The award winning Child Trust Fund provider found that while the vast majority of parents open an account for their child rather than waiting for the Government to do so, many of those who don't are making a proactive decision not to while others are understandably busy with their new baby.

David White, Chief Executive of The Childrens Mutual, said: "Because the CTF is universal, every single eligible child receives an account, but what is impressive is that nearly 75% of parents choose to proactively open the account and around half of our customers start saving on a monthly basis immediately."

According to its research among parents of young children, over one in 10 parents actively choose not to open an account and to let the Government do so on their behalf, citing their lack of familiarity with financial matters. In addition, research among parents who haven't opened accounts found that 27% say it is because they haven't had time to think about it - not surprising considering a new baby has a profound effect on family life.

Mr White said: "Attention is often paid to the quarter of parents who do not open accounts, accusing them of not engaging with, or being interested in the CTF, but our research shows that parents are far more engaged than many would believe. We found that over one in 10 parents, with CTF vouchers to place, said they would choose to let the Government open their child's CTF and of those who haven't opened accounts, the number one reason is because they are understandably focusing on the here-and-now. The beauty of the CTF is that it allows for this, with the Government opening accounts on behalf of parents if they don't do it themselves, meaning that no child will miss out.

"Engaging 85% of the population to do anything is phenomenal when you consider that when it comes to matters financial just 40% of the adult population has a private pension and only 30% of those eligible have an ISA. The Child Trust Fund has done what no other savings product has done before - captured the imagination of the general population - and parents should be praised not chastised for acting in the interests of their children and recognising the importance of saving over the long term particularly at such a busy time in family life."

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children. Each eligible newborn child (born on or after 1 September 2002) receives a £250 Child Trust Fund voucher (£500 for low income families) from the Government when their parents register for Child Benefit. The Government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child's teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year.

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Notes to editors

About The Children's Mutual - Home of the Child Trust Fund
The C

The Childrens Mutual reveals that just one in five parents has a will

Tue, 12 Jan 2010 14:11:06 GMT

According to new research by leading Child Trust Fund (CTF) provider The Children's Mutual, just 18% of parents have written a will, yet many are unaware that should the worst happen and the parents die without having appointed a guardian, the child may not be looked after by their chosen carer and it will be up to the courts to decide where they live. The Children's Mutual is therefore urging parents to make and keep just one New Year's Resolution this year - to write a will.

According to research by The Children's Mutual, the majority of parents who hadn't written a will said it was because the task was 'sitting on the to do list' but wasn't a priority (35%), 32% said they hadn't found the time and 27% said they couldn't afford to write a will. To help address these concerns, The Children's Mutual has put together a simple Will Writing Checklist which is available on request to assist parents ahead of writing a will and is offering a discounted rate for a standard will of £50 plus VAT through its Will Writing Service in partnership with Flint Bishop Solicitors.

The Childrens Mutual is calling on parents to act to protect their children and is urging the one in three (27%) parents it surveyed who said they planned to write a will, to do just that this year.

Tony Anderson, Marketing Director at The Children's Mutual, said: "The majority of parents have writing a will on their to do list but we're urging them to put their New Year's Resolutions to good use in 2010 and make it happen. While it's something no parent wants to think about, getting a will written and their paperwork in order so they know their child will be cared and provided for will be a huge weight off their mind."

Of the parents questioned who have a will, their top reasons for writing one were to ensure their partner inherited their estate and because they wanted to decide who would look after their children should the worst happen.

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Notes to editors
Research by The Children's Mutual Brand Tracker Wave 20 and 21

About The Children's Mutual - Home of the Child Trust Fund
The Children's Mutual's mission is to help parents, grandparents, family and friends fulfil their hopes for today's children. The Children's Mutual is the only UK company which specialises in long term savings for children and is now the choice of 1 in 4 parents for their child's Child Trust Fund, with more than 750,000 CTF accounts. This expertise has led several financial institutions and family-focused high street retailers to choose The Children's Mutual as their stakeholder Child Trust Fund provider.

The Childrens Mutual reports kids unaffected by recession this Christmas

Tue, 24 Nov 2009 15:46:39 GMT

According to research by a leading Child Trust Fund (CTF) provider, The Children's Mutual, children in the UK are set for a bumper Christmas this year, receiving £5 billion of presents. With generous friends and family set to spend 20% more than last year on youngsters, it seems the recession is not impacting kids' stockings just yet.

The average UK child will receive £380 worth of presents this year, compared to £316 in 2008. In total, UK kids will have over £4 billion worth of toys and other presents underneath their trees, along with £960 million in cash, with each child receiving an average of £73. More than a quarter of lucky UK children will get £100 or more.

The Children's Mutual is urging parents to take advantage of the generosity of friends and family this Christmas by asking them to invest in a present that could last a lifetime.

David White, Chief Executive of The Children's Mutual, said: "It's great news that the recession is not affecting kids' stockings this Christmas. However we are urging parents to think about their children's futures and ask friends and family to invest a portion of this money for the long-term."

The Children's Mutual also found that a lot of money is spent on presents that often don't last for more than a couple of months.

David White continued: "Around £200 is spent on presents that won't make it past Easter, but if this money was invested in a Child Trust Fund each year, it could be worth £6,100* by the time it matures when the child turns 18. This way friends and family can give a gift that could last well beyond the child's 18th birthday and providing them with a nest egg for the future."

According to figures from The Children’s Mutual, top ups into Child Trust Funds get a timely boost at Christmas with an average increase in ad hoc payments of just under 25%** during the festive period.

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children (born on or after 1 September 2002). Each newborn child receives a £250 Child Trust Fund voucher (£500 for low income families) from the Government when their parents register for Child Benefit. The Government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child's teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year.

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Notes to editors
Commissioned by The Children's Mutual, The Parenting Matters Report questioned 2070 parents with children aged 5-15 in May 2009.

* Future projected values based on £200 being invested once a year (excluding the government's contributions) for 18 years in a stakeholder CTF account and assuming an investment return of 7% a year, and charges of 1.5% of the CTF account value each year.
** Based on ad hoc payments made into The Children's Mutual CTF accounts in Jan 09 compared to the rest of the previous year.

About The Children's Mutual - Home of the Child Trust Fund
The Children's Mutual's mission is to help parents, grandparents, family and friends fulfil their hopes for today's children. The Children's Mutual is the only UK company which specialises in long term savings for children and is now the choice of 1 in 4 parents for their child's Child Trust Fund, with more than 725,000 accounts. This expertise has led several financial institutions and family-focused high street

The Children's Mutual launches What I Want To Be webmercial

Tue, 24 Nov 2009 13:55:37 GMT

The Children's Mutual, a leading Child Trust Fund provider, has captured the career aspirations of kids in the UK in its new webmercial and microsite.

Dressed to reflect the most popular career choices, babies from seven to 11 months are seen acting out different job roles in the 50 second web ad.

The What I Want To Be webmercial was prompted by research from The Childrens Mutual into the dream jobs of the nation's children entitled What I Want To Be. Every year the research tracks the career aspirations of children as they grow up, to explore how social and economic factors might affect their ultimate career choices.

The brains behind the ad, Head of Online at The Children's Mutual and dad of one, Nathan King said: "We wanted to engage with a new generation of parents who enjoy and respond to online media. We understand families and their desire to help their children fulfil their ambitions. So while the ad and microsite are a lot of fun our products support parents in helping their children to reach their goals."

The project isn't the first time The Children's Mutual has broken new ground as a CTF provider. The family finance specialist also created the first branded CTF TV advert encouraging parents to save for their children as well as a recently launched animated guide to the Child Trust Fund. The webmercial and CTF microsite now form part of the company's evolving social media engagement strategy.

According to King: "Personal finance is very few people's favourite subject but it is a crucial part of daily life. As a family finance specialist we want to try everything we can to help make saving and planning for the future as engaging and straightforward as it can be."

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children. Each eligible newborn child (born on or after 1 September 2002) receives a £250 Child Trust Fund voucher (£500 for low income families) from the Government when their parents register for Child Benefit. The Government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child's teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year.

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Notes to editors:
The What I Want To Be ad was directed by Steve Clarke and produced by Production International.

About The Children's Mutual - Home of the Child Trust Fund
The Children's Mutual's mission is to help parents, grandparents, family and friends fulfil their hopes for today's children. The Children's Mutual is the only UK company which specialises in long term savings for children and is now the choice of 1 in 4 parents for their child's Child Trust Fund, with more than 725,000 accounts. This expertise has led several financial institutions and family-focused high street retailers to choose The Children's Mutual as their stakeholder Child Trust Fund provider.

The Children's Mutual launches animated guide to Child Trust Funds

Fri, 13 Nov 2009 12:35:07 GMT

Leading Child Trust Fund provider The Children's Mutual is pleased to announce the launch of a new cartoon guide to Child Trust Funds - the first of its kind in the marketplace.

The cartoon guide is a five minute animation in a graphic style reminiscent of perennial children's favourite, Fuzzy Felt. During the film, busy new mum, Mel, (and baby Emily) explain what the Child Trust Fund is, the different sorts of funds that are available, their individual features, how to find a provider and how to go about applying for a fund.

The Child Trust Fund guide has additional link-back buttons at the end that allow viewers to go directly back to sections of particular interest and watch them again. It also gives clear direction to alternative information sources including HMRC.

Marketing Director, Tony Anderson, said: "We appreciate that new parents have very little free time and when they do get a chance to sit down they aren't necessarily in the mood to wade through financial paperwork or regulatory terminology. But they still want to be sure that they are making the right choices for their children. This is where our animated guide provides a completely new approach to helping customers – through carefully chosen language and functionality. It provides all the salient information about CTFs in easy to understand language and simple to access bite size sections."

The cartoon guide can be viewed at The Children's Mutual's own website and is also available for publications and sites to host themselves to help their own audiences to more easily understand the Child Trust Fund.

Tony concluded: "Opening a Child Trust Fund account can seem like a daunting task, but with our new guide it needn't be. All we ask is that parents give us just five minutes of their time to help them make an informed decision."

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children. Each eligible newborn child (born on or after 1 September 2002) receives £250 (£500 for low income families) from the government when their parents register for Child Benefit. The Government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child's teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year.

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About The Children's Mutual - Home of the Child Trust Fund
The Children's Mutual's mission is to help parents, grandparents, family and friends fulfil their hopes for today's children. The Children's Mutual is the only UK company that specialises in long term savings for children and is now the choice of 1 in 4 parents for their child's Child Trust Fund, with more than 675,000 accounts. This expertise has led several financial institutions and family-focused high street retailers to choose The Children's Mutual as their stakeholder Child Trust Fund provider.

The Childrens Mutual announces seven year olds to lead new savings culture

Tue, 01 Sep 2009 12:18:17 GMT

The Children's Mutual's 'Turning Seven' report has revealed that the recession will have a positive impact on the savings habits of today's seven year olds. According to the leading Child Trust Fund provider, the current recession is developing a younger generation with a more responsible attitude towards money - the likes of which has not been seen since the end of the Second World War.

'Turning Seven', which delves into the financial attitudes of seven year olds and their parents, found that two thirds of parents polled insisted that their seven year old children were better informed about finances than they were at the same age. 47% also revealed their seven year olds have already saved up money for something specific, such as a computer game. The report highlights that the current generation of seven year olds will be much more pragmatic about money.

Two thirds of parents feel that their seven year olds now understand that money 'does not grow on trees' and are optimistic that the economic hardship currently being experienced is a positive for their children, with a third of parents believing it will make their child more astute and responsible with money. Indeed, 83% of UK parents now insist that their children 'earn' their pocket money.

David White, Chief Executive of The Children's Mutual, said: "We are all acutely aware that the recession has put many people in difficult financial situations, but what is surprising is that there has been a positive impact through prompting reflection and encouraging a change in attitude and behaviour. We know that many families are feeling the squeeze, but encouragingly, our report demonstrates that parents and children are creating a 'positive austerity' and are using the downturn as an opportunity to educate their children about the value of money which ultimately could alter savings habits in the UK from the ground up."

The 'Turning Seven' report has been released today to coincide with the oldest members of the Child Trust Fund Generation turning seven, and as a result receiving an additional £250 top up payment from the Government into their CTFs.

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children. Each eligible newborn child (born on or after 1 September 2002) receives a £250 (£500 for low income families) Child Trust Fund voucher from the Government when their parents register for Child Benefit. The Government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child's teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year.

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Notes to editors
The 'Tuning Seven' report was commissioned by The Children's Mutual and undertaken by Next Big Thing in July 2009.

About The Children's Mutual - Home of the Child Trust Fund
The Children's Mutual's mission is to help parents, grandparents, family and friends fulfil their hopes for today's children. The Children's Mutual is the only UK company that specialises in long term savings for children and is now the choice of 1 in 4 parents for their child's Child Trust Fund, with more than 700,000 accounts. This expertise has led several financial institutions and family-focused high street retailers to choose The Children's Mutual as their stakeholder Child Trust Fund provider.

The Childrens Mutual reports £25 billion cost for 2009 university starters

Mon, 24 Aug 2009 11:39:43 GMT

The Children's Mutual has reported the cost of university for this year’s recent A-level graduates could be as high as £25 billion - almost £3 billion more than last year. The Children's Mutual warns that thousands of young adults celebrating their A-Level results and their parents may remain unaware of this rising cost.

According to the leading Child Trust Fund provider, the average student needs to find about £42,000 to fund three years at university, but this doesn’t take into account the costs of any further training they might want to do after their degree. Currently 87% of young people in the UK are receiving financial help from their parents and help towards university costs is something many students expect and parents expect to give*. Increases in year-on-year university costs also mean this bill will rise in future years.

One way parents of future scholars can help mitigate the rising costs is by saving regularly from when their children are very small. The Child Trust Fund (CTF) was created by the Government to provide every eligible child with a nest egg when they turn 18, with parents, friends and family all encouraged to help save. Launched in 2002, more than 4.4 million children now have a CTF account. Topping up a child's CTF on a monthly basis could result in a significant lump sum when the child turns 18, perfect for helping with university costs.

David White, Chief Executive of The Children's Mutual, said: "University can be as much of a millstone as it is a milestone. While parents will be pleased about their children's successes as they receive their A-level results and many look forward to university, the high costs involved can be a real financial strain to a huge number of students and their parents. For families planning to support their children through university, finding a lump sum to cover the costs can be very difficult. Often, parents are left with no other option but to dip into their savings or remortgage their house. This can have a serious impact on their own financial future.

"From 2020 all 18 year-olds will have access to their maturing Child Trust Funds as they enter adulthood and the money saved in these could make a real difference to both future university students and their parents."

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children. Each eligible newborn child (born on or after 1 September 2002) receives £250 (£500 for low income families) from the Government when their parents register for Child Benefit. The Government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child's teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year.

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Notes to editors
Student figures based on The Children’s Mutual calculations of the National Union of Students (NUS) stats, workings available on request.
* Based on The Children's Mutual Financial Independence Report, February 2009.

About The Children's Mutual - Home of the Child Trust Fund
The Children's Mutual's mission is to help parents, grandparents, family and friends fulfil their hopes for today's children. The Children's Mutual is the only UK company that specialises in long term savings for children and is now the choice of 1 in 4 parents for their child's Child Trust Fund, with more than 675,000 accounts. This expertise has led several financial institutions

The Childrens Mutual reports dads worth an additional £17,000 to families

Fri, 07 Aug 2009 10:08:17 GMT

According to new research by the leading Child Trust Fund (CTF) provider, The Children's Mutual, today's dads undertake a wide variety of tasks in and around the home, such as cooking, assembling toys, acting as the children's taxi service, doing the school run, organising family finances and doing DIY. This unpaid work is worth up to £17,000 a year, and is on top of the contribution to family life that a working dad's salary provides.

It is the children that really benefit from dad's helping hand, as their number one activity during the week is spending time with their children (4hrs6mins). This is followed by cooking (3hrs19mins), DIY (3hrs11mins) and arranging family finances (3hrs9mins).

David White, Chief Executive of The Children's Mutual, said: "Dads play such an important role within the home and in the lives of their children - our calculations show the additional monetary value that dads now have around the home, quite apart from the emotional value that they have, supporting their partner and children. It's great that looking after their children is so high on dad's agendas, but it's also really encouraging to see just how high up arranging the family finances are.

"Even in the current climate, dads are still looking to the future with 23% of working dads saying that saving for their children's futures is a top priority. Currently 57% are working on this by trying to save what they can regularly. Contributing towards a CTF is one of the ways dads can save for their children's futures. By saving regularly, and over the long-term, dads can help to give their children a financial springboard into adulthood that could be worth up to £37,100* when they reach age 18. This could be a massive help towards the cost of university or a deposit for their first home".

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible young children. Each eligible newborn child (born on or after 1 September 2002) receives £250 (£500 for low income families) from the Government when their parents register for Child Benefit. The Government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child's teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year. The Government's preferred option is a Stakeholder Child Trust Fund account which is subject to strict guidelines governing investment type and charges. The Child Trust Fund provider manages the account until it matures and becomes available to the child when they are 18.

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Notes to editors
Research undertaken by 72 Point for The Children's Mutual. 2,187 dads interviewed in June 2009. Research available on request.
* Based on investing £100 a month (plus initial £250 Government voucher and at age 7) for 18 years in a stakeholder CTF account. Assuming investment return of 7% a year, and charges of 1.5% of the CTF account value each year. Projected values aren't guaranteed because the value of shares goes up and down. Final payout could be more or less than this.

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