Savings

The Baby Bond^® Child Trust Fund is a Stakeholder account made available through our relationship with AXA Sun Life Services plc and it is provided by The Children's Mutual^. The account provides access to the potentially greater returns of share based investment and is free from personal taxes.

More about the account

• You'll have access to the greater earnings potential of a tracker fund which invests in a wide range of shares. The Children's Mutual will, from age 13, gradually move investment from share based investments to less risky assets, to help protect the value of the account. Note: The value of investments may fall as well as rise and is not guaranteed and your child may get back less than paid in.
• 1.5% of the account's value each year is taken out to cover charges.
• You'll receive a statement every year around your child's birthday showing payments in and the value of the fund at the beginning and end of the year.
• You can add to your child's savings as soon as the account has been opened, subject to the Government's limit of £1,200 per year (this excludes the voucher amount). The year starts on your child's birthday.
• Transfers in to the account - If you’ve already opened a Child Trust Fund Account and want to transfer you can. If you are transferring from a share-based Child Trust Fund, contact your existing provider to find out about factors that may affect the value of your child's fund on transfer. Then, to transfer to the Baby Bond^® Account, contact The Children's Mutual on 0845 607 5615* to request a transfer application.

  Once The Children's Mutual receive the completed transfer form from your existing provider they will instruct the original provider to transfer the funds. Note: The amount transferred will depend on the value of funds at the time of the transaction. The amount transferred may be less than the amount invested.

We offer two types of Child Trust Fund Account...

We offer both the Baby Bond^® and Cash Child Trust Fund accounts. The table below shows the main differences between them.

	Britannia's Cash Child Trust Fund		The Children's Mutual Baby Bond®
	Is a Non Stakeholder Child Trust Fund		Stakeholder Child Trust Fund
	Your child's savings are in a cash based savings account		Your child’s savings are invested in a share based fund and will benefit from potentially greater returns offered by the stockmarket. The value of shares can go down as well as up. Your child may get back less than the amount originally invested
	Capital secure for the lifetime of the account		To help protect any growth on the account, the investment may be moved to less risky assets as your child approaches 18
	There are no explicit charges		There is an annual charge capped at 1.5% of the account's value
	Minimum additional investment is £1		Minimum additional investment is £10

Important Information

Child Trust Fund accounts have been specifically designed to work for the long-term benefit of the child. This means that all money paid into the account cannot be withdrawn and must remain within a Child Trust Fund until the child reaches the age of 18. Please bear this in mind when making contributions as you will not be able to withdraw any of the money, and any contribution made to the Child Trust Fund cannot be returned to the donor.

^The Children's Mutual is authorised and regulated by the Financial Services Authority.

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