I have just recieved a statement. After being given a voucher for ÂĢ250 when my last son was born nearly 3 years ago we matched it with another ÂĢ250. Also the banks suggested that we set up a standing order to add a regular top up to this trust fund - which we did not do. So since last year when there was about ÂĢ520 in the fund it now stands at ÂĢ373. What is the point of investing in anything. I'm so glad that we didn't set up the top up the bank kept suggesting we do, it would have been more money down the drain.
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Christ! Con
Can you not remove this money?
Can you not remove this money?
quote:Originally posted by RENTON:
Christ! Con
Can you not remove this money?
Hi Renton
. I'm going to the bank as soon as i can get there to try and transfer it somewhere else but i don't think you can. You are very limited with it being a government thing.
So it can just go down and down - to the point where it cud cost you your contribution?
You can't withdraw this money...it is for your child and only they can touch it...when they are 18, I think. You can move it to another trust fund...most building societies have them. Look around for a good performing one. We lost on our youngests one...that's why we don't add to it anymore...a pointless exercise by the govt to try and buy votes.
quote:Originally posted by RENTON:
So it can just go down and down - to the point where it cud cost you your contribution?
Looks that way. I did think it was protected in some way being that it was ment to be for children and trying to encourage people to invest for their childs future.
See this is wot i hate so much - its a bloody minefield of legality and Terms+conditions set out to confuse
Want to take out extra cover on that? Erm . . .
Even the Gov. sets out to mislead then criticises companies for not being clear in their offerings
Want to take out extra cover on that? Erm . . .
Even the Gov. sets out to mislead then criticises companies for not being clear in their offerings
quote:Originally posted by RENTON:
See this is wot i hate so much - its a bloody minefield of legality and Terms+conditions set out to confuse
Want to take out extra cover on that? Erm . . .
Even the Gov. sets out to mislead then criticises companies for not being clear in their offerings
'Tis renton, and so bloody confusing unless you have a degree in Nuclear Physics or work for NASA!!!! 
quote:Originally posted by mel 2:
I have just recieved a statement. After being given a voucher for ÂĢ250 when my last son was born nearly 3 years ago we matched it with another ÂĢ250. Also the banks suggested that we set up a standing order to add a regular top up to this trust fund - which we did not do. So since last year when there was about ÂĢ520 in the fund it now stands at ÂĢ373. What is the point of investing in anything. I'm so glad that we didn't set up the top up the bank kept suggesting we do, it would have been more money down the drain.
Exactly the same amount as my sons has withered to
The prediction of how much it may grow to by the time he is 18 was miserable too. 