Child Trust Funds
Working in partnership with TISA and Shares4Schools, MoneySense is raising awareness of over 1 million unclaimed Child Trust Funds. We’d appreciate your help to inform young people and their parents that every child born between 1st September 2002 and 2nd January 2011 could be missing out on up to £1,000 that they may have lost track of.
What are Child Trust Funds?
A Child Trust Fund (CTF) was an amount of money issued by the government to every child born between 1st September 2002 and 2nd January 2011. It’s a tax-free savings pot to encourage young people to save and develop financial skills. The funds are only released to them when they turn 18 years old – although they can take control of the account when they’re 16, so the first children can now take controls of theirs.
How can children claim their CTF?
It’s estimated that 1 million Child Trust Funds are still unclaimed either because families are unaware of them or have moved from the address where they lived when the child was born.
And don’t forget, the MoneySense website has resources for parents and pupils of all ages to improve their financial management skills and knowledge.
Thank you,The MoneySense Team
Phone: +44 (0)131 557 0815