{"id":128549,"date":"2026-11-10T11:35:00","date_gmt":"2026-11-10T11:35:00","guid":{"rendered":"https:\/\/en.econostrum.info\/uk\/?p=128549"},"modified":"2026-11-10T11:00:44","modified_gmt":"2026-11-10T11:00:44","slug":"child-trust-fund-warning","status":"publish","type":"post","link":"https:\/\/en.econostrum.info\/uk\/child-trust-fund-warning\/","title":{"rendered":"Child Trust Fund Warning: 758,000 Could Be Missing Out On \u00a32,240"},"content":{"rendered":"\n<p>Families with children born between <strong>2002 and 2011<\/strong> could have money sitting in a Child Trust Fund (CTF) account without realising it. HMRC estimates that around <strong>758,000 people<\/strong> may still have Child Trust Fund accounts that have not been claimed. The average account is estimated to be worth around <strong>\u00a32,240<\/strong>, although the amount varies between accounts.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Who Could Have A Child Trust Fund?<\/h2>\n\n\n\n<p><a href=\"https:\/\/www.gov.uk\/child-trust-funds\" target=\"_blank\" rel=\"noopener\">Child Trust Funds<\/a> were government-backed savings or investment accounts created for eligible children born between <strong>September 1, 2002 and January 2, 2011<\/strong>. The Government initially paid money into qualifying accounts, with parents and family members also able to add savings.<\/p>\n\n\n\n<p>The accounts were designed to give children a financial foundation when they reached adulthood. Children can take control of their account from the age of <strong>16<\/strong>, but they generally have to wait until they are <strong>18<\/strong> before withdrawing the money.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How Much Money Could Be In The Account?<\/h2>\n\n\n\n<p>The initial government contribution was <strong>\u00a3250<\/strong> for eligible children, followed by another \u00a3250 payment when the child reached seven. Children from lower-income families could receive <strong>\u00a3500 payments<\/strong>.<\/p>\n\n\n\n<p>Parents and relatives could also contribute, with total contributions capped at <strong>\u00a39,000 per year<\/strong> under the scheme&#8217;s rules. The final value of an account depends on factors such as government contributions, family deposits and whether the money was held as cash or invested.<\/p>\n\n\n\n<p>HMRC&#8217;s estimate puts the average matured account at around <strong>\u00a32,240<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How To Find A Forgotten Child Trust Fund<\/h2>\n\n\n\n<p>People who believe they may have a Child Trust Fund can use the Government&#8217;s online service to search for their account. The service can also be used by parents looking for an account belonging to an eligible child.<\/p>\n\n\n\n<p>Applicants need to provide details including their <strong>National Insurance number and date of birth<\/strong>. <a href=\"https:\/\/en.econostrum.info\/uk\/hmrc-set-to-gain-new-powers-to-examine\/\">HMRC<\/a> says people requesting information should receive a response within around <strong>three weeks<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">We&#39;re now closed and will be back at 8am tomorrow. We&#39;ll answer any missed queries then. \u2705 <br><br>Turning 18 this year? You could have an average of \u00a32,200 waiting for you in a Child Trust Fund.<br><br>Want to know how to access yours? Click the link below. \ud83d\udc47<a href=\"https:\/\/t.co\/3o7ae8QduG\">https:\/\/t.co\/3o7ae8QduG<\/a> <a href=\"https:\/\/t.co\/U1NASUkxL7\">pic.twitter.com\/U1NASUkxL7<\/a><\/p>&mdash; HMRC Customer Support (@HMRCcustomers) <a href=\"https:\/\/x.com\/HMRCcustomers\/status\/2118433213366337862?ref_src=twsrc%5Etfw\">November 5, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">What Happens Once You Find The Account?<\/h2>\n\n\n\n<p>Once a Child Trust Fund has been located, the account holder can find out how much money is held in it and what options are available. Those aged <strong>18 or over<\/strong> can generally withdraw the funds or transfer the money into another suitable savings or investment product.<\/p>\n\n\n\n<p>Anyone aged 16 can take control of their account but must wait until 18 to withdraw the funds. Financial expert <strong>Martin Lewis<\/strong> has advised people who find a Child Trust Fund to consider whether the money could earn a better return elsewhere once they have access to it.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Thousands Could Be Unaware They Have Savings<\/h2>\n\n\n\n<p>Child Trust Funds were created more than two decades ago, meaning some account holders may have forgotten about them or may not know that an account was opened in their name. Parents who opened an account for a child can also check whether it still exists.<\/p>\n\n\n\n<p>With HMRC estimating an average value of around <strong>\u00a32,240<\/strong>, checking for a forgotten account could uncover a substantial sum for eligible young adults. The Government&#8217;s Child Trust Fund service provides the route for people to find out whether an account exists and what steps they need to take to claim the money.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thousands of people could have money waiting for them from a government savings scheme launched more than two decades ago. Many may have forgotten about the account, while finding out whether you have one could take only a few minutes.<\/p>\n","protected":false},"author":6,"featured_media":128550,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44],"tags":[],"class_list":["post-128549","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33","no-featured-image-padding"],"_links":{"self":[{"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/posts\/128549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/comments?post=128549"}],"version-history":[{"count":1,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/posts\/128549\/revisions"}],"predecessor-version":[{"id":128551,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/posts\/128549\/revisions\/128551"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/media\/128550"}],"wp:attachment":[{"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/media?parent=128549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/categories?post=128549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/tags?post=128549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}