5 million child trust funds opened
Five million Child Trust Fund accounts have been opened over the space of five years, the Government has disclosed.
Since the funds were introduced in April 2005, a total of 5.005 million accounts have been started.
Exchequer Secretary to the Treasury Sarah McCarthy-Fry MP said: "Child Trust Funds are supporting families to save for their children's future and will ensure that every child in the country has a financial asset on entering adult life. This April marks the fifth anniversary of the introduction of the CTF, and the accounts continue to be a great success.
"No child misses out on a Child Trust Fund, and today's figures show that over five million children now have savings set aside for their future, thanks to the CTF."
The fund was established by the Government to encourage parents and carers to save money for their children's adulthood.
Disabled children will now receive an extra £100 state payment into their trust fund every year, and severely disabled children will get £200.
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