Thousands of young individuals are being encouraged to verify if they possess a forgotten or misplaced Child Trust Fund. Recent data from HMRC reveals that 758,000 individuals aged between 18 and 23 have not yet claimed their matured Child Trust Fund, which holds an average balance of £2,242. The exact amount in the account varies based on the initial deposits made.
Child Trust Funds were established by the Government for children born from September 1, 2002, to January 2, 2011. These accounts were initiated with an initial deposit of £250, rising to £500 for children from low-income households. Families could contribute up to £9,000 annually into the account, and young adults can access the funds when they reach 18 years old.
To facilitate the search for these funds, Angela MacDonald, HMRC’s Second Permanent Secretary and Deputy Chief Executive, advised individuals between 18 and 23 to check for potential savings they may not be aware of. By searching “find my Child Trust Fund” on GOV.UK, individuals can locate their accounts. If the Child Trust Fund provider is known, direct contact can be made; otherwise, the GOV.UK locator tool can be utilized by providing the National Insurance number and date of birth of the account holder.
In the past year leading up to August 2025, over 563,000 young people utilized online resources to locate their Child Trust Funds, with September 2024 being the busiest month with over 71,000 searches conducted. Shelley Doorey-Williams, CEO of the London Foundation for Banking & Finance, commended HMRC’s initiative and emphasized the importance of claiming these savings, which can provide financial support at a critical juncture in young people’s lives.
A recent report by the Mirror highlighted the story of Tayo Olutunde, a 22-year-old accounting and finance student living in Leeds, who discovered a Child Trust Fund worth over £2,000. Tayo shared his experience of initially learning about the funds on TikTok and later confirming the existence of his account with the help of his mother.
Optimizing the search for unclaimed Child Trust Funds is crucial in ensuring that young individuals are aware of potential savings earmarked for their financial well-being.