02/10/2025
Young Adults Urged To Claim Child Trust Funds
HM Revenue and Customs (HMRC) is urging young people aged 18 to 23 to locate and claim their matured Child Trust Fund (CTF) accounts, as the latest figures reveal 758,000 young adults have yet to access their money. The unclaimed accounts are worth an average of £2,242 each.
CTFs are long-term, tax-free savings accounts that were set up for children born between 1 September 2002 and 2 January 2011, starting with an initial government deposit of at least £250.
Once the account holder turns 18, the account matures, and they can choose to either withdraw the money or re-invest it.
Angela MacDonald, HMRC’s Second Permanent Secretary and Deputy Chief Executive, said: "If you’re between 18 and 23, you could be sat on a savings payout and not even realise it. Just search 'find my Child Trust Fund' on GOV.UK to find your savings account today.”
To find an account, those who do not know their CTF provider can use the free GOV.UK locator tool. The request takes about 5 minutes to submit and typically takes less than 3 weeks to receive a reply, requiring the young person’s National Insurance number and date of birth.
Over 563,000 young people used the online tool to find their accounts in the 12 months to the end of August 2025.
The savings accounts are not held by government but are held in banks, building societies or other saving providers. Find out more about Child Trust Funds at GOV.UK.
CTFs are long-term, tax-free savings accounts that were set up for children born between 1 September 2002 and 2 January 2011, starting with an initial government deposit of at least £250.
Once the account holder turns 18, the account matures, and they can choose to either withdraw the money or re-invest it.
To find an account, those who do not know their CTF provider can use the free GOV.UK locator tool. The request takes about 5 minutes to submit and typically takes less than 3 weeks to receive a reply, requiring the young person’s National Insurance number and date of birth.
Over 563,000 young people used the online tool to find their accounts in the 12 months to the end of August 2025.
The savings accounts are not held by government but are held in banks, building societies or other saving providers. Find out more about Child Trust Funds at GOV.UK.
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