With the focus on its own CTF, Engage Mutual found that parents of twins are 40 per cent more likely to pay money in monthly.

In addition, they were more generous with the amounts they paid in, with twins benefiting from £18 more a year each.

Karl Elliott, a spokesperson for Engage Mutual, said that older parents tended to have twins and they could be more able and prepared to save more.

“Regardless of household income, or how many children you have, everyone should be encouraged to save for their children’s future,” he added.

“We would urge parents to set aside a small amount of money on a regular basis.”

The quarterly survey published by the trade body for CTFs, Tisa, showed that almost a third of the savings accounts were receiving regular additional amounts by lump sum and direct debit.

Find out more about child savings

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