07/11/2024
Has your child an unclaimed Child Trust Fund (CTF)
18-22 year olds who have yet to claim their Child Trust Fund (CTF) cash should look to do so as soon as possible. According to HMRC, over 670,000 young adults have unclaimed funds, with the average savings pot estimated to be approximately £2,000.
Children born between 1 September 2002 and 2 January 2011 were eligible for a CTF amount, with the government contributing an initial deposit, typically at least £250. These amount were set up as long-term savings for newly born children.
Anymore who turned 18 on or after 1 September 2020 could have unclaimed money in a dormant CTF. Parents of children aged 18-22 should also check if their children have claimed the funds to which they are entitled.
To find your Child Trust Fund please click here.
For our assistance, please call 023 8046 1214 or email Susan Wooding.
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