GOV.UK (Government Digital Service)

Have You Claimed Your Child Trust Fund Yet?

The video alerts anyone born between September 1, 2002 and January 2, 2011 that they may hold an unclaimed Child Trust Fund (CTF), a tax‑free savings account now averaging about £2,200. The scheme, launched by the UK government, deposited an initial £250 for each eligible child, with an additional £250 for those from low‑income families or local‑authority care, and the funds have accrued interest over the years. Key data points include more than 750,000 young adults still not having accessed their CTFs, and the fact that the accounts mature at age 18, at which point the holder can either withdraw the cash or roll it into an adult ISA. No further contributions are permitted after maturity, making timely action essential. The presenter emphasizes, “you don’t want to miss out on that money,” urging viewers to locate their provider directly or use the GOV.UK lookup tool. The simple process—contact the provider or use the online service—means the barrier to claim is low, yet many remain unaware. For the audience, claiming the CTF can provide a significant financial boost at a pivotal life stage, enhancing savings for education, housing or investment. It also highlights a broader policy lesson: government‑seeded savings schemes can remain under‑utilised without effective outreach, potentially widening wealth gaps among young adults.