£2,200 waiting: how to claim your Child Trust Fund
If you were born between September 2002 and January 2011, the government may have opened a savings account for you — and you could be sitting on an average of £2,200 without realising it.
HM Revenue and Customs has revealed that over 750,000 young people have unclaimed Child Trust Funds. These are tax-free savings accounts the previous Labour government set up for every eligible child, depositing £250 into each account. The money has been sitting there, growing, waiting for you to turn 18 and claim it.
Who is eligible?
You’re eligible if you were born between 1 September 2002 and 2 January 2011. You should now be aged between 15 and 23. Your parents or guardians may have set up the account on your behalf, but many young people — and their families — simply don’t know where the money is or that it exists.
How much could you get?
The initial £250 government payment has likely grown over the years through interest and any additional contributions your parents may have made. The average amount waiting to be claimed is £2,200, though yours could be more or less depending on how it was managed.
How to find and claim your money
The good news is that claiming is straightforward. If you already know which bank, building society or savings provider holds your account, contact them directly. If you don’t, use the free ‘Find my Child Trust Fund’ tool on GOV.UK — it’s designed to help you locate your provider quickly.
Once you’ve found your account, you can withdraw the money or leave it invested. It’s entirely your choice what you do with it once you turn 18.
Why act now?
Rachel Blake, Economic Secretary to the Treasury, emphasised that the government is working with financial institutions to make claiming easier. This is your money — there’s no catch, no application form to fill in, and no reason to delay.
If you think you might have a Child Trust Fund, visit GOV.UK and use the finder tool today. It could be the easiest £2,200 you ever claim.