The United Kingdom’s Child Trust Fund policy, imple- mented in 2005, opens an account for every newborn. 11 The government mails parents/guardians a £250 voucher upon a child’s birth. (Children from lower-income house- holds receive an additional £250). The parent/guardian then takes the voucher to a bank and uses the voucher to open a savings account on behalf of the child. If the parent/guardian does not redeem the voucher after one year, an account is automatically opened on behalf of the child. (Parents/guardians can choose to open a savings account or an account that invests in shares. This decision depends, in part, on.
