Government Launches Drive to Reunite Young People with £1.6 Billion in Unclaimed Savings

Hundreds of thousands of young people across the UK could be missing out on money that is rightfully theirs, with more than £1.6 billion currently sitting in unclaimed Child Trust Fund (CTF) accounts.

The UK Government has announced a new Child Trust Fund Taskforce, bringing together government departments and major financial providers to help reconnect young people with their savings. The initiative aims to improve tracing methods, raise awareness and make it easier for eligible account holders to claim their money.

Key facts

• 💷 More than 750,000 Child Trust Fund accounts remain unclaimed.
• 📊 The average account is worth around £2,200.
• 👶 Around 6.3 million Child Trust Funds were opened for children born between 1 September 2002 and 2 January 2011.
• 🔍 Anyone aged 16 or over can use the free ‘Find my Child Trust Fund’ service on GOV.UK using their National Insurance number to locate their account.
• 💰 Once they turn 18, account holders can access or transfer their savings.

The Government is also continuing its awareness campaign, including writing directly to eligible young people and working with banks, building societies and other providers to encourage more accounts to be claimed.

If you or someone you know was born between 1 September 2002 and 2 January 2011, it could be worth checking whether a Child Trust Fund is waiting to be claimed.

👉 Find out more and search for a Child Trust Fund: https://www.gov.uk/government/news/government-steps-up-drive-to-reconnect-young-people-with-16-billion-in-unclaimed-savings