The Children's Mutual to suspend business on CTF's

In a reaction to the Coalition Government announced in May 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. Our preferred Child Trust Fund provider, The Children's Mutual, will be unable to accommodate us in writing new CTF or transferring existing funds from 1 August 2010.

They remain committed to managing all of the existing Child Trust Fund accounts placed with them, and additional contributions into these plans will continue to be accepted, until the maturity of each account.

Capital Reward Plus is currently looking into new and existing opportunities for parents to save or invest for their children's futures. An announcement is expected shortly.