Child Trust Fund

CTF Stakeholder Account

Child Trust Fund

Child Trust Fund (CTF) – Stakeholder Account

Please note that the CTF product is only relevant if you have an existing CTF which you are considering transferring or if Her Majesty's Revenue & Customs (HMRC) are opening the account for an eligible child. If your child is not eligible for the CTF please consider the Junior ISA as an alternative.

Important Change to our CTF Terms & Conditions – The CTF Regulations have changed and “lifestyling” (automatically switching the account gradually to lower risk investments from age 15 (previously age 13)) is no longer a requirement for Stakeholder CTF accounts. The Sheffield Mutual CTF will no longer provide a lifestyling facility, but registered contacts can consider a voluntary transfer to our lower risk Investment Junior ISA. Please call 01226 741000 or email us at to find out more.

Any child born in the UK between 1st September 2002 and 2nd January 2011 should have been issued with a voucher from the Government. Vouchers were worth £250 or £50, depending on when the child became entitled.

The voucher enabled the parent/guardian of the child to choose a provider for their child’s CTF. If the voucher was not used before the expiry date then the Government allocated these accounts to various product providers, to ensure the children didn’t miss out on their policy.

If your voucher has expired and you’re unsure as to where your child’s policy is held please visit the HMRC website for guidance.

For general CTF information visit 

You can no longer open a new CTF as all the Government vouchers have now expired however, you still have the option to transfer the CTF to a different provider. You may also transfer the CTF to a Junior ISA, should you wish to (see below).

For further information please see below, read our CTF booklet or feel free to contact our office and one of our product accredited staff will be happy to run through the policy details with you.

If you hold a CTF with another provider then you may transfer it to us if you wish, simply complete and return the CTF transfer pack (below).

You also now have the option to transfer your CTF to a Junior ISA (below).

Who has responsibility for a CTF account? 

To transfer an account you must have parental responsibility for the child and be over 16 years of age, you must also be the registered contact for the account. The ‘Registered Contact’ is the person who can make decisions about the account and to whom annual statements will be sent. When the child reaches 16 he/she may become the ‘Registered Contact’ by completing a declaration at that time. If he/she fails to do so we will continue to manage the account in accordance with the most recent instructions from the previous Registered Contact.

What is the difference between a Stakeholder and a Non Stakeholder account? 

The Government has set certain standards which a Stakeholder account must comply with and these are the only type of accounts that can be used when allocated by Her Majesty’s Revenue & Customs (HMRC).

The Requirements are: 

  • The funds in the account should be invested predominantly in the stock market and in the shares of a spread of companies.
  • Charges must not be more than 1.5% of the value of the fund in the account each year. 
  • Additional payments of £10.00 or more must be accepted either by cheque, cash, direct debit or standing order. 
  • There was a requirement to provide a facility for ”lifestyling” when the child reaches 13 (later deferred to age 15). This is the process of switching the account to lower risk investments in order to provide some protection from the possibility of stock market losses as the child approaches 18.

    A change to the CTF Regulations on 06 April 2017 removed the requirement for lifestyling.

Non-Stakeholder accounts can invest in different types of assets and are not restricted to maximum charges of 1.5%.

The Sheffield Mutual CTF is a Stakeholder Account. It no longer provides a lifestyling facility, but if you are concerned about the possibility of stock market losses you can request a transfer to the Society’s lower-risk Investment Junior ISA (see ‘Can I transfer my CTF into a Junior ISA?’).

Please note that is you transfer a Stakeholder CTF to another CTF or a Junior ISA, you may lose some or all of the Stakeholder features.

How do I know the value of the investment in a CTF? 

When the account is opened or additional money added to it, you will be allocated a number of units based upon the unit price on that day. For example if you invested £250.00 and the unit price was £1.00 you would be allocated 250 units.

The unit price will vary depending upon the value of assets within the fund and the number of units issued. However, the number of units allocated to your account will not vary unless additional money is invested. You can therefore calculate the value of your investment by multiplying the unit price at the time (see our website or contact us for current values) by the number of units held. The unit price will be calculated weekly and is available on our website or by contacting our office. You will also receive an annual statement telling you the number of units and current value. In order to receive your annual statement, you must complete and return your Registered Contact Form. If no form is received then you will only receive a statement after your child’s 4th,10th and 15th birthday.

Are there any charges ? 

YES. The Society makes a charge of 1.5% of the value of the account each year for management and administration. The quoted unit price includes charges and there are no further deductions.

Can I add money to the CTF? 

YES. Further payments can be made in addition to contributions from the Government up to the maximum allowed per subscription year which runs from one birthday to the next. However, you should remember that once money has been added under normal circumstances (see terminal illness or early death) the money cannot be accessed until the child reaches the age of 18. Additional payments can be taken over the phone by debit card, via a bank transfer*, or you can send a cheque. Regular payments can also be set up by standing order or Direct Debit.

To make a payment to a CTF account please use the following bank acount details and put the child's Unique Reference Number (URN) as the reference.

*Account Name: Sheffield Mutual Friendly Society

Sort Code: 53-61-04

Account Number: 60553685


What happens when the child reaches 18?

The CTF account ends on the child’s 18th birthday and at this stage he/she will be able to use the fund in any way he/she chooses as it will be paid to him/her. If the money is not required the Government has said that it can be rolled-over into an Individual Savings Account (ISA) in the child’s name.

Can money be withdrawn from a CTF before the child reaches 18?

No, withdrawals are not allowed at any time up to age 18.

Is there any tax payable when the child reaches age 18?

No, under current legislation which may change in the future, the proceeds are free from income and capital gains tax.

What happens in the event of death or diagnosis of a terminal illness? 

In the case of diagnosis of a terminal illness HMRC may allow early access but they will have to be contacted via their website to make a claim. They may agree to some or all of the invested fund being withdrawn but the account will remain open to accept any further payments that may be due. In the unfortunate event of death the value of the account on the date of death will be paid to the child’s estate.

Can I transfer a CTF investment from or to another provider? 

YES. You can transfer either to or from a CTF provider by obtaining and completing a transfer form. This must be the whole amount as partial transfers are not allowed.

Can I transfer a CTF to a Junior ISA?

Yes. Those with a Child Trust Fund may transfer to a Junior ISA should they wish to. This must be the whole amount as partial transfers are not allowed. Any such transfer will not count towards the child's Junior ISA allowance. Transferring a Child Trust Fund to a Sheffield Mutual Investment Junior ISA is simple and you can obtain a Transfer Form either online or by contacting the Society. You will not have to contact the Child Trust Fund Provider yourself.

A CTF may be transferred even if, at the time of transfer, the child would not meet the normal UK residing conditions for a Junior ISA. 

Can I change my mind after making an application ?

YES. You will have 14 days in which to change your mind after you receive the initial account opening pack. After this the account will be opened and the money invested.

Will any other information be required ?

In order to receive additional payments we may require proof of identity and address in order to comply with anti-money laundering regulations. We reserve the right to do this electronically through an external agency.

What do I do next ?

The ‘Registered Contact’ will need to complete the transfer form with the Client Agreement and send this to FREEPOST RLUC-XKZE-RJAT, Sheffield Mutual Friendly Society, 3 Maple Park, Maple Court, Tankersley, Barnsley, S75 3DP. We will then send a pack confirming the details of the account once the transfer has gone through.

Child Trust Fund Unit Value (pence)  


DateUnit Prices
11/02/2019 262.1368
04/02/2019 259.0499
29/01/2019 252.9789
21/01/2019 258.7497
14/01/2019 252.3243
07/01/2019 249.8460
31/12/2018 247.9809
24/12/2018 246.5541
17/12/2018 249.2558
10/12/2018 250.8164
03/12/2018 262.5750
26/11/2018 257.8971
19/11/2018 260.7805
12/11/2018 260.3224
05/11/2018 263.2081
29/10/2018 258.7893
22/10/2018 260.3553
15/10/2018 258.2231

For a history of CTF values, please visit our archive.

CTF Booklet (2.8M, .PDF)

Child Trust Fund Key Information Document (78.9K, .PDF)

CTF Transfer Pack (2.6M, .PDF)

CTF - Junior ISA Transfer Pack (2.0M, .PDF)

Need Help? Ask a question Need Help? Ask a question

Send to a friend