If you were born between 1 September 2002 and 2 January 2011, there’s a strong chance that HMRC deposited a Child Trust Fund (CTF) on your behalf—and you may not even know it.
Across the UK, over £1.4–£1.5 billion remains unclaimed in these funds, with 728,000–780,000 young adults still unaware of their entitlement. Many of those entitled are estimated to have around £2,000–£2,212 in their CTFs.
What Is a Child Trust Fund (CTF)?
- A tax-free savings account set up by the UK government for eligible children born in the specified date range.
- HMRC automatically opened accounts if parents didn’t, credited with £250, or £500 for those in lower-income households.
- An extra payment of the same amount was deposited when the child turned seven—provided before August 2010.
- Parents and guardians could continue investing, up to £9,000 per year.
Timeline Overview
| Date of Birth | Government Deposits Made | Access Age | Current Average Value |
|---|---|---|---|
| 1 Sep 2002 – 2 Jan 2011 | £250 (£500 low-income) at birth; same at 7 | Control at 16, withdraw at 18 | £2,000–£2,212 per account |
How Much Is Still Waiting?
- Between £1.4 and £1.5 billion is currently unclaimed.
- Around 728,000–780,000 people have yet to claim their accounts .
- For 18–22 year‑olds, 670,000–780,000 funds remain untouched, averaging around £2,080–£2,212 .
Why Has Money Remained Unclaimed?
- Account forgetfulness – Many parents didn’t engage after setup.
- Lack of awareness – Up to 45% of matured funds unclaimed as of April 2021 .
- Ownership vs provider confusion – Accounts sometimes transferred without notification .
- Legal access barriers – For young adults without capacity, accessing funds may require court intervention.
How to Check If You’re Owed Money
- Go to gov.uk and search “find a Child Trust Fund“.
- Provide your National Insurance number, date of birth, and name.
- HMRC will typically respond in three weeks, providing your provider details.
- Alternatively, use The Share Foundation, especially useful for CTFs of those in care.
No fees. Avoid paid claim services that can charge up to 25% of your fund value .
What Happens Next?
Once your account provider is identified:
- You can withdraw the money, transfer it into an adult ISA, Junior ISA, or even continue investing.
- Remember: When you transfer to an ISA at 18, it does not affect your annual ISA allowance (£20,000).
- Compare provider charges and interest rates—CTFs may have high fees.
Tips to Maximise Your CTF
- Track it down yourself: Completely free via HMRC or Share Foundation.
- Avoid third-party fees: Commercial services may take up to 25% of your funds.
- Review provider fees: Switch to lower-fee or better-return products like Junior ISA or adult ISA.
In summary, if you were born between September 2002 and January 2011, there’s a strong chance you have a Child Trust Fund holding around £2,000. With over £1.4 billion unclaimed across the UK, and hundreds of thousands still unaware, it’s vital you check.
The process is free, easy, and quick, and it ensures you reclaim money that belongs to you—without paying anyone to do it.
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FAQs
Can I claim my CTF after turning 18?
Yes, account holders gain full control at 18 and can withdraw or transfer anytime thereafter.
How long does the retrieval process take?
After request, HMRC typically confirms your provider within three weeks; withdrawals depend on the provider.
Do I lose tax benefits if I transfer to an ISA?
No. Transferring retains the tax-free status and doesn’t count against your ISA allowance.