Childrens Mutual Child Trust Fund
Customer Service
Ease of Use
Value For Money
Childrens Mutual Child Trust Fund
User Reviews
Ease of Use
Customer Service
Value For Money
Lost £2800 In A Year
My child’s trust fund has decreased in value by over £2800 this year (from £1600 to £1400 and despite me paying an additional £800 in this year) and I’m paying a fee for the privilege of my child losing money in an apparent low risk account. We knew nothing of this until receiving a statement despite that they are meant to manage this money on my child’s behalf. This is money that relatives have paid in all year which has now been lost. Total disgrace to manage children’s money in this way and will be making a complaint. Transfer your child’s money out of this immediately even if to a very low interest account as this product is putting your child’s cash at serious risk.
Hi, I had the same problem… Children’s Mutual overlooked mistakes on Youngster Bond Extra application form back in 2006. Following business takeover in 2013, Foresters are refusing to do anything about it… it’s even worst that neither myself or my godson can access the funds due to mistakes on the application form… Had to engage Free Access Barrister to get the ball rolling… Absolute Shambles!
Ease of Use
Customer Service
Value For Money
Very Poor Returns
IN ITS PAST YEAR A CTF RETURNED 2% GROWTH ,WHILST A JISA WITH 'ONE FAMILY'
RETURNED 8.12% FOR A DIFFERENT CHILD, SAME PERIOD, RUNNING IN PARALLEL .
PREVIOUS RETURNS FOR THE CHILDRENS MUTUAL CTF WERE 4% AND ANOTHER 2% !
A DEFINITE AVOID, SINCE THE CHILDRENS MUTUAL IS NOW RUN BY THE 'RORESTERS'
WHO , HAVE CLEARLY MISSED THE TARGET !!!!!!!!!!!!!!
Hi, I had the same problem… Children’s Mutual overlooked mistakes on Youngster Bond Extra application form back in 2006. Following business takeover in 2013, Foresters are refusing to do anything about it… it’s even worst that neither myself or my godson can access the funds due to mistakes on the application form… Had to engage Free Access Barrister to get the ball rolling… Absolute Shambles!
Ease of Use
Customer Service
Value For Money
Last Year Performance - 7.3% Decrease
Received my son's statement and was shocked to learn that during last year the amount invested has been decreased by 7.3%. This is during times when economy is growing and you have easily 3-4% increase in other saving accounts.
Will arrange a transfer within the next 2 days.
Filed a complaint too.
Hi, I had the same problem… Children’s Mutual overlooked mistakes on Youngster Bond Extra application form back in 2006. Following business takeover in 2013, Foresters are refusing to do anything about it… it’s even worst that neither myself or my godson can access the funds due to mistakes on the application form… Had to engage Free Access Barrister to get the ball rolling… Absolute Shambles!
Ease of Use
Customer Service
Value For Money
My Son's Ctf Account Has Stagnated
In the last two years my son's modest £1,250 investment pot has fallen. I intend to see if I can't move this fund elsewhere as a loss for the second year running is ridiculous.
CTF was previously the Tunbridge Wells Equitable Friendly Society (TWEFS) and the fund grew reasonably well with their management, but when the Child Trust Fund scheme was enacted, TWEFS changed their name to the Children's Mutual, which subsequently joined with Foresters Life in 2013 From that point onward it just started to lack the lustre of previous years.
I am going to take advice from a reputable independent advice service to see if I can move the fund elsewhere.
Hi, I had the same problem… Children’s Mutual overlooked mistakes on Youngster Bond Extra application form back in 2006. Following business takeover in 2013, Foresters are refusing to do anything about it… it’s even worst that neither myself or my godson can access the funds due to mistakes on the application form… Had to engage Free Access Barrister to get the ball rolling… Absolute Shambles!
I have requested the forms from NAtionwide to transfer my son's CTF into a Junior ISA cash account with 3.25% AER. At least this may provide solid growth as the last 2 years with Children's Mutual has produced only a small LOSS.
He won't be able to access the money until he is 18 and at least it is likely to show a modest profit.
Beware
Do not invest with this company. Do not believe their sales claims of a safe & secure investment. They are muppets who take no responsibility for the funds. Their performance over the last five years is less than can be achieved through any leading Building Society Bond.
You have been warned.
Hi, I had the same problem… Children’s Mutual overlooked mistakes on Youngster Bond Extra application form back in 2006. Following business takeover in 2013, Foresters are refusing to do anything about it… it’s even worst that neither myself or my godson can access the funds due to mistakes on the application form… Had to engage Free Access Barrister to get the ball rolling… Absolute Shambles!
My son's CTF account grew well year on year until Forester Life took over in 2013 - since then his fund has decreased slightly. It may be that the new group is having some difficulties in maintaining previous performance levels.
Ease of Use
Customer Service
Value For Money
Awful
Set up two savings plans for 13 and 16 years...the first is due to expire - we have had no bonuses for 5 years and will end up with just our money back if lucky.
Heartbroken to think how hard I saved and they would have got more from a current account in any bank!
Hi, I had the same problem… Children’s Mutual overlooked mistakes on Youngster Bond Extra application form back in 2006. Following business takeover in 2013, Foresters are refusing to do anything about it… it’s even worst that neither myself or my godson can access the funds due to mistakes on the application form… Had to engage Free Access Barrister to get the ball rolling… Absolute Shambles!
Useless Performance On Long Term
I have two long term child funds and am predicting a return of about 1% year on year at maturity. This is hopeless for an investment return. My own pension fund has gone up well over this for a similar period without any input. What is wrong with these people, why can't they at least match a reasonable bank saving account. Don't use them.
Hi, I had the same problem… Children’s Mutual overlooked mistakes on Youngster Bond Extra application form back in 2006. Following business takeover in 2013, Foresters are refusing to do anything about it… it’s even worst that neither myself or my godson can access the funds due to mistakes on the application form… Had to engage Free Access Barrister to get the ball rolling… Absolute Shambles!
Not Even Mutual
The Childrens Mutual is not mutual - not one policy being sold to children shares in the profits of the organisation. They say they are experts in investing for children but in fact all they do is hand the money over to a Lloyds Bank subsidiary, who invest in an FTSE tracker - which has been woeful in performance for some years. If they were indeed monitoring the performace - they would have changed things by now - but they do nothing. Their fees are at the top end - and remember, they boast they only take 1.5% - but they take it every year - so save for 18 years and they will take 1.5% of your entire pot of money each year - that adds up to quite a sum.
Hi, I had the same problem… Children’s Mutual overlooked mistakes on Youngster Bond Extra application form back in 2006. Following business takeover in 2013, Foresters are refusing to do anything about it… it’s even worst that neither myself or my godson can access the funds due to mistakes on the application form… Had to engage Free Access Barrister to get the ball rolling… Absolute Shambles!
I wouldn't even look at any of their funds, I've just had my bond materity value and it isn't even what I have put into the fund. I have only invested £10 per month, but in 2011 of the £120 I put in I was only credited with 44p!
Avoid the childrens mutual at all cost.
Ease of Use
Customer Service
Value For Money
Very Efficient In Making Your Money Disappear!!!!!!!!!!
After 6 years of paying we are MUCH worse off. Children's Mutual was the stupidest idea ever. If we kept those money in a sock we would have £500 more to spent on our child!! they took £500 for nothing!! they have no clue how to invest money and you will not only not receive a penny more but will surely loose what you've paid them!!!! MASSIVE DO NOT USE!!!!
Hi, I had the same problem… Children’s Mutual overlooked mistakes on Youngster Bond Extra application form back in 2006. Following business takeover in 2013, Foresters are refusing to do anything about it… it’s even worst that neither myself or my godson can access the funds due to mistakes on the application form… Had to engage Free Access Barrister to get the ball rolling… Absolute Shambles!
Ease of Use
Customer Service
Value For Money
Child Trust Fund
Have been paying into the Ethical Child Trust Fund for 6 years. Terrible performance, not helped by the very large initial payment fees. So after 6 years I am transferring the money out - considerably less than we (and the government) put in. Don't ever use them.
Hi, I had the same problem… Children’s Mutual overlooked mistakes on Youngster Bond Extra application form back in 2006. Following business takeover in 2013, Foresters are refusing to do anything about it… it’s even worst that neither myself or my godson can access the funds due to mistakes on the application form… Had to engage Free Access Barrister to get the ball rolling… Absolute Shambles!
Q&A
Hiya a opened a children’s trust fund in January 2009 we have moved address am just wondering how to change address?
I have paid into savings for my daughter since she was around 5 years old and now she has turned 21 years and the policy has been expired no one has wrote to me about this for pay out. Has anyone else experienced this?