Becoming a Registered Contact

Understanding how the Registered Contact for a Child Trust Fund works can be confusing. To make things simpler, we’ve broken down the details below.

Your Child Trust Fund explained. Download our free guide.

What is the Registered Contact?

The Registered Contact of a Child Trust Fund is the individual able to manage and make decisions regarding the CTF account.

It's important to note that being the account holder, or parent/guardian of the account holder does not automatically make you the Registered Contact. 

Who can become the Registered Contact?

There are two options for who can become the Registered Contact for a CTF:

Parent or Guardian

Being the parent or guardian of the child who owns the CTF Account does not automatically make you the Registered Contact. If your child is under 16, to become the Registered Contact on the account, you must register your details with us. This will enable you to manage the account on the Child’s behalf. If your child is over 16, in most circumstances they must become the Registered Contact on their own account.

When the account matures on the child’s 18th birthday, only they can give instruction on what to do with the funds, regardless of who the Registered Contact is.

 

 

Child over 16?

If the account holder is aged 16 or over, only they can become the Registered Contact on their own account. This will need to be done before the child reaches their 18th birthday in order to instruct us what to do with their account.

If the account holder is under 16, then they cannot become the Registered Contact yet and this responsibility will fall to their parent/guardian until they reach 16. When they reach 16, they can become the Registered Contact for their own account.

Apply to become the Registered Contact

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Apply to be the Registered Contact

Apply to be the Registered Contact

To become the Registered Contact for the account, all you need to do is download, complete and return the form found below.

Please Note: You must confirm you have read the key facts, before downloading this document.

Key Facts about our services and costs

1. The Financial Conduct Authority (FCA)

The FCA is the independent watchdog that regulates financial services. This document is designed by the FCA to be given to consumers buying certain financial products. You need to read this important document. It explains the service you are being offered and how you will pay for it.

2. Whose products do we offer?

We offer products from the whole market

We only offer products from a limited number of companies

We only offer our own products

3. Which service will we provide you with?

We will advise and make a recommendation for you after we have assessed your needs.

You will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.

We will provide basic advice on a limited range of stakeholder products and in order to do this we will ask some questions about your income, savings and other circumstances but we will not:

  • conduct a full assessment of your needs;
  • offer advice on whether a non-stakeholder product may be more suitable.

We can only offer products from Kingston Unity Friendly Society. These products will enable you to:

  • protect yourself and your loved ones in the event of death
  • save and invest with the added benefit of protecting yourself and your loved ones in the event of death
  • provide benefit cover in the event of sickness

4. What will you have to pay us for our services?

Normally, if you buy a financial product direct from us, there will be no payments such as commission or fees payable. If there are any commission or fees payable, we will tell you how we get paid and the amount before we carry out any business for you.

5. Who regulates us?

Kingston Unity Friendly Society, 9 Navigation Court, Calder Park, Wakefield, WF2 7BJ is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and .the Prudential Regulation Authority. Kingston Unity Friendly Society’s FCA Registered Number is 110056.

Kingston Unity Friendly Society permitted business is advising and arranging life assurance and pensions business.

You can check this on the FCA’s Register by visiting the FCA’s website www.fsa.gov.uk/register or by contacting the FCA on 0845 606 1234.

6. What to do if you have a complaint

If you wish to register a complaint, please contact us:
…in writing Write to Kingston Unity Friendly Society, Complaints Department, 9 Navigation Court, Calder Park, Wakefield, WF2 7BJ. …by phoneTelephone (01924) 240164

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

7. Are we covered by the Financial Services Compensation Scheme (FSCS)?

We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.

Most types of insurance business are covered for 90% of the claim with no upper limit.

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