When your child reaches 7 years old
Further government contribution
When your child reaches age 7 they will get a further government contribution into their Child Trust Fund (CTF) account. It is called an Age 7 payment.
Will my child receive an Age 7 payment?
If on their 7th birthday your child is still:
- in a child benefit claim
- living in the UK and
- not subject to immigration control
then he/she will automatically receive the Age 7 payment
There are special arrangements for children looked after by a Local Authority (or Health and Social Services Trust in Northern Ireland) to make sure they don't miss out.
To find out more about eligibility to CTF click on this link: Find out if your child is eligible"
How much will my child get?
Your child will get a £250 Age 7 payment. And if you were receiving the maximum amount of child tax credits, (or its equivalent, if you claimed Income Support or income-based Jobseeker's Allowance) when your child had their 7th birthday, your child will get an additional £250.
To find out more about qualifying for the additional Age 7 payments click on this link: "Qualifying for the additional payment"
What do I have to do?
Nothing. You don't have to make a claim or fill in any forms. All Age 7 payments will be automatically paid directly into your child's CTF account.
When will the Age 7 payments be paid?
The Age 7 payment will be made shortly after your child's 7th birthday. And the additional Age 7 payment for children living in low income households will be paid when your child tax credit claim for the year is finalised. HMRC will write to you to let you know that payment has been made.
Will this affect the amount I can invest?
No, you can still invest up to £1,200 per year.
Are they different to other CTF government contributions?
The Age 7 payments are exactly the same as the government contribution used to open your child's CTF account. They will be paid directly into the account, they are tax-free and wil not affect family benefit or tax credits. Look out for them on the next CTF statement.
