Child Trust Fund
The question
To ask the Chancellor of the Exchequer, what steps are being taken to inform young adults whose matured Child Trust Fund monies have not been claimed.
Answered by Lucy Rigby
The Government is committed to reuniting all young adults with their Child Trust Funds (CTF). HMRC works with CTF providers, industry representatives and others to enable account owners to be aware of and trace their accounts.
For example, HMRC has partnered with the University and Colleges Admissions Service to encourage awareness among student peer groups. HMRC issues a range of communications such as the recent press release published on Gov.uk - www.gov.uk/government/news/savings-stash-worth-thousands-waiting-for-758000-young-people.
HMRC also provides a free tracing tool on Gov.uk to help people find their CTF provider (www.gov.uk/child-trust-funds/find-a-child-trust-fund) and has also provided a link to The Share Foundation’s CTF account tracing service on Gov.uk, providing an additional way for young people to trace their accounts.
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