Over 750,000 unclaimed matured Child Trust Funds

Over 750,000 18 to 23 year-olds have yet to claim their matured Child Trust Funds, according to HMRC.

The accounts are, on average, worth £2,242 each.

Child Trust Funds are long term, tax-free savings accounts which were set up for children born between 1 September 2002 and 2 January 2011 with an initial government deposit of at least £250.

Young people can access the trust fund from 16 years-old, but once the account holder turns 18, it matures. They can decide whether they want to withdraw the money or re-invest it.

Child Trust Funds can be found via the GOV.UK locator tool using their date of birth and National Insurance Number.

More than 563,000 young people went online to find their Child Trust Fund in the 12 months to the end of August 2025, says HMRC. September 2024 was the busiest month when over 71,000 searches were submitted.

Shelley Doorey-Williams, CEO of the London Foundation for Banking & Finance said: “As a committed member of the YFCG (Youth Financial Capability Group), the London Foundation for Banking & Finance welcomes HMRC’s call for young people to claim their Child Trust Fund savings. It’s encouraging to see the Government making efforts to reunite people with money they may not even realise was theirs. With an estimated average of £2,242 waiting in unclaimed accounts, this is real money at a crucial time, that can help young people right at the start of their financial lives.”

Source: HMRC press release