Child trust funds worth £1.4bn still unclaimed

Published On Jan 19, 2025, 7:11 PM

A significant sum of £1.4 billion from Child Trust Funds remains unclaimed as many young adults reach the age of 18 without being aware of these accounts. An MP is advocating for automatic pay-outs for unclaimed funds when recipients turn 21. These funds, originally set up by the government as a tax-free savings option for children born between September 2002 and January 2011, are now a topic of discussion regarding easier access and better communication to ensure that young adults can benefit from them. The proposal, however, faces hurdles in terms of complexity and the resources needed for implementation.