Many young individuals are being encouraged to verify if they possess a neglected or misplaced Child Trust Fund.
The most recent data from HMRC reveals that 758,000 individuals aged between 18 and 23 have not yet collected their matured Child Trust Fund, averaging £2,242 per account.
The account value may vary depending on the total saved amount.
Child Trust Funds were established by the Government for children born from September 1, 2002, to January 2, 2011, with an initial deposit of £250, or £500 for children from low-income families.
Subsequently, families could contribute up to £9,000 annually into the account, and young adults can access the funds once they reach 18 years old.
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Angela MacDonald, HMRC’s Second Permanent Secretary and Deputy Chief Executive, mentioned: “If you’re between 18 and 23, you could be sitting on a savings windfall without even realizing it.
“Simply search ‘find my Child Trust Fund’ on GOV.UK to locate your savings account.”
If individuals, or their parents or guardians, are aware of their Child Trust Fund provider, they can contact them directly. If the account’s location is unknown, the GOV.UK locator tool can be used to locate it.
For identification, the National Insurance number and birthdate of the account holder are required. These savings accounts are managed by banks, building societies, or other financial providers, not the government.
Over 563,000 young adults searched online for their Child Trust Fund in the 12 months leading up to August 2025. The busiest month was September 2024, with over 71,000 searches.
Shelley Doorey-Williams, CEO of the London Foundation for Banking & Finance, commented: “As part of the YFCG (Youth Financial Capability Group), we at the London Foundation for Banking & Finance support HMRC’s initiative for young people to claim their Child Trust Fund savings.
“It’s positive to see the Government taking steps to reunite individuals with funds they may be unaware of. With an average of £2,242 waiting in unclaimed accounts, this is tangible assistance at a critical juncture, aiding young individuals at the outset of their financial journey.”
The Mirror recently featured the story of Tayo Olutunde, an accounting and finance student, who discovered a Child Trust Fund worth over £2,000.
22-year-old Tayo, residing in Leeds, shared with The Mirror: “I first learned about Child Trust Funds on TikTok about two years ago. It piqued my interest, but I was skeptical. However, I eventually inquired with my mum, and she confirmed that I indeed
