MilitaryForums.co.uk

Posted on behalf of NAAFI Financial

As the only military specialist on the Government approved list of distributors NAAFI Financial provide Forces families at home and abroad with easy access to Child Trust Fund accounts through their partnership with UK Armed Forces Benefit Society. They are the only distributor able to offer this service in Germany.

In welcoming his guests Al Voice, Managing Director of NAAFI Financial, said;
“Families are the lynchpin of our serving men and women, and we are proud to help in any way that ensures their future financial security. By making access to the Child Trust Fund easier for those in the Forces, wherever they may be in the world, we are doing just that.”

“Even though the Child Trust Funds won’t be open until April 2005 we have already received over 200 registration applications from our customers in the last two weeks. It’s the sort of start in life that every youngster will be grateful for when the time comes, and makes it easy for friends and family to contribute regularly to their special fund.”

A Child Trust Fund is a savings account available to all children born on or after September 1, 2002. The Government will issue each of these children with a voucher worth at least £250, or up to £500 for lower income families, to invest in a Child Trust Fund. Many parents have already received their vouchers and the Government intends to have distributed them all by the end of February. Parents, friends and family will be able to top up the fund by up to £1,200 per year, and the growth on the money will be tax-free.

UK Armed Forces Benefit Society is part of one of the country’s leading friendly societies, which has a wealth of experience providing savings for children, helping NAAFI Financial to offer simple and affordable savings plans for all the family.

http://www.naafi-financial.com/ctf/index.asp

Millions of families will lose up to £1,200 by the time their child reaches 18 after the Government announced plans to axe Child Trust Funds.
Ministers have scrapped the scheme in a bid to save up to £520million as part of its £ 6.2billion efficiency drive.
Payments will be dramatically reduced by 80 per cent from August before the scheme is withdrawn in January.
At present, parents of newborns receive a means-tested payment of either £250 or £500 to invest for their children.
A further 'top-up' payment of up to £500 is made when the child reaches seven. The cash is either left in a savings account or invested in a portfolio of shares.
Up to £1,200 can be invested into the fund each year and it is tax free. The children can have access to the money from the age of 18.
The idea - the brainchild of the then chancellor Gordon Brown - was for children to have some savings to assist with later costs in life, such as university or a deposit for a home.

You must be worried that they wont be able to buy your products in the near future

You need qualifications to trade in shares or to give finical advice, best check at your local college and see what they say. It could be you wind up with a certificate that is totally waste of time yet has cost you quite a bit of money

Yes It is good procedure to provide perfect financial help to right person or we get benefit from them