Child Trust Fund
Child Trust Funds are saving and investment accounts for children and young people. Children born on or after 1 September 2002 receive a £250 voucher at birth to start their account. The account belongs to the child and can't be touched until they turn 18, giving young people additional financial security to help their transition to adult life.
Top-up payments
Care Matters: Time for Change set out the Government's commitment to provide an extra £100 per year for the Child Trust Fund accounts of looked after children for every whole year they spend in care after 1 April 2007.
Statutory guidance for local authorities on how they should make payments for all eligible looked after children was published on 28 May 2008 and is available below.
Funding
Local authorities will receive additional funding to make the Child Trust Fund account top-up payments for looked after children through their area based grant. Details of local authority funding can be downloaded from the Local Authorities website.
This page was last updated on 28 May 2008
