According to figures published by HMRC in September 2026, approximately 827,000 young adults have yet to claim their Child Trust Funds. The accounts were established under a government savings scheme that ended in 2011, leaving many beneficiaries unaware that money had been set aside for them during childhood.
Why Thousands of Child Trust Funds Remain Unclaimed
Child Trust Funds were government-backed savings accounts created for children born between September 2002 and January 2011. The scheme was designed to provide children with savings that would become accessible when they reached adulthood.
The government initially contributed £250 to eligible accounts, while children from lower-income families received £500. Further payments of £250 or £500 were made when eligible children turned seven, although these contributions stopped in August 2010.
The scheme closed to new entrants in January 2011 and was replaced by Junior Individual Savings Accounts (ISAs). Parents and guardians could open accounts for their children, but where no account was arranged, the government established one on the child’s behalf. As a result, some young adults may have savings accounts they have never personally managed.
Account holders can take control of their Child Trust Funds from the age of 16, although withdrawals are generally restricted until they turn 18.
According to the Express.co.uk, the average balance of unclaimed matured Child Trust Funds stood at £2,310 in April 2026. Individual amounts vary depending on investment performance and any additional contributions made over the years.
In an appeal issued in September 2025, Angela MacDonald, HMRC’s second permanent secretary and deputy chief executive, said: “If you’re between 18 and 23, you could be sat on a savings payout and not even realise it.”
How To Find a Forgotten Account Using a National Insurance Number
Young adults who believe they may have a Child Trust Fund can locate their account provider through the government’s free online tracing service. Applicants need their date of birth and National Insurance number, which follows a specific format consisting of two letters, six digits and a final letter.
Most young people receive their National Insurance number shortly before their 16th birthday. Those unable to find it can access the information through the HMRC app.
According to HMRC’s online guidance, the Child Trust Fund provider tracing form takes approximately 10 minutes to complete. Applicants can submit their request online or print the form and send it by post.
The service identifies the organisation holding the account but does not disclose the amount saved. HMRC reported that almost 500,000 young people used the GOV.UK locator tool during the nine months to August 2026. Applicants who already know their account provider can contact the organisation directly.
Once they receive the provider’s details, account holders can enquire about accessing their savings. The money belongs to the young person named on the account. From the age of 18, they can withdraw it, leave it in place or reinvest it.
