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Eva Essential Blog- £1.4bn In Forgotten Child Trust Fund Money

  • Author Avatar Susan Yates
  • Published date:
  • Category: Uncategorised

£1.4bn In Forgotten Child Trust Fund Money

You should not act or rely on any information contained in this website without first seeking advice from a professional. Past performance is not a guide to future performance and may not be repeated. Capital is at risk; investments and the income from them can fall as well as rise.

CTFs were made available to all children in Britain born between 1 September 2002 and 2 January 2011. Parents were issued a voucher for £250 or £500 to be paid into the CTF at outset, but if it hadn’t been used after 12 months the government simply opened up an account on the child’s behalf.

They can be accessed when the child turns 18. The money can then be withdrawn or transferred to an adult ISA. They can also be transferred before maturity into a Junior ISA.

More than 25% were opened by the government rather than parents which goes some way to explain the high level of unclaimed CTFs.

Anyone searching for an unclaimed CTF can use this online government tool to help find it.

https://www.gov.uk/child-trust-funds/find-a-child-trust-fund

Source: https://www.ajbell.co.uk/articles/investmentarticles/280612/families-urged-track-down-14-billion-forgotten-child-accounts

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