Unclaimed Child Trust Funds: Are You One of Over 750000 Young People Missing Out on Savings?
- mikejackson823
- Nov 15, 2025
- 3 min read
More than 750,000 young people aged 18 to 23 have yet to claim their matured Child Trust Funds, according to HM Revenue and Customs (HMRC). These accounts hold an average value of £2,242 each, representing a significant amount of unclaimed savings that could help many young adults as they start their independent financial lives.
Child Trust Funds were introduced as long-term, tax-free savings accounts for children born between 1 September 2002 and 2 January 2011. The government initially deposited at least £250 into each account to encourage saving from an early age. Now that these accounts have matured, it is time for the young adults to take control of their savings.
What Are Child Trust Funds and How Do They Work?
Child Trust Funds (CTFs) were designed to help children build savings for their future. The government provided an initial deposit, and parents, family members, or guardians could add money over time. The funds grew tax-free until the child turned 18.
At age 16, the young person can start managing the account, but the money remains locked until the account matures at 18. Once matured, the account holder can:
Withdraw the money as a lump sum
Reinvest the funds into other savings or investment products
Leave the money in the account to continue growing
The flexibility allows young people to decide how best to use their savings based on their personal goals.
Why So Many Young People Have Not Claimed Their Funds
Despite the clear benefits, over 750,000 eligible young adults have not yet claimed their Child Trust Funds. Several reasons contribute to this:
Lack of awareness about the account or its maturity
Lost or forgotten account details
Uncertainty about how to access or manage the funds
Not knowing the potential value of the savings
HMRC has made it easier to find and claim these funds by offering an online locator tool. This tool requires only the young person’s National Insurance number and date of birth to quickly identify the account.
How to Find and Claim Your Child Trust Fund
Finding your Child Trust Fund is straightforward and free. Here is how to do it:
Visit the GOV.UK website and search for "find my Child Trust Fund."
Enter your National Insurance number and date of birth.
Submit the request online, which takes about five minutes.
Wait for a response, usually within three weeks, with details about your account.
More than 563,000 young people used this tool in the 12 months leading up to August 2025, showing growing awareness and action.
What to Do After You Find Your Child Trust Fund
Once you locate your account, you have several options:
Withdraw the money: Use the funds for education, starting a business, or other important expenses.
Reinvest: Transfer the money into a new savings or investment account to continue growing your wealth.
Seek advice: If unsure about the best choice, consult a financial advisor to make an informed decision.
Taking control of your Child Trust Fund can provide a financial boost as you transition into adulthood.
Real-Life Example
Consider Emma, who recently turned 19 and discovered her Child Trust Fund was worth £2,500. She decided to withdraw the money to help pay for her university tuition fees. Without this savings, Emma would have had to take on more student loans. Her story highlights how these funds can make a real difference.
Final Thoughts
If you are between 18 and 23, you might be missing out on a valuable savings payout without even knowing it. The process to find and claim your Child Trust Fund is quick and simple, and the money could support your next steps in life.
Take a few minutes today to search for your Child Trust Fund on GOV.UK. You could unlock thousands of pounds in savings waiting just for you. Don’t let this opportunity pass by.
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