Child Trust Funds were introduced by the UK Government in 2005 for children born between September 2002 and January 2011. Eligible children received at least £250 when their account was opened, with an additional £250 for those from low-income families. On average, these unclaimed accounts are worth £2,200.

Account holders can access their funds once they turn 18. However, many young people are unaware of their rights to these savings accounts. Lucy Rigby, the Economic Secretary to the Treasury, highlighted this gap in financial awareness. “Hundreds of thousands of young people in this country don’t know they have a CTF, let alone how to access it,” she said.

The funds are managed by banks and building societies—not the government—making it essential for individuals to locate their accounts independently. HMRC urges young people to use the free “find my child trust fund” service on GOV.UK. Additionally, the Share Foundation provides a free tool to help locate these accounts.

Lucy Rigby emphasized her determination to ensure that those who have Child Trust Funds are made aware of their existence. “Together, we will ensure funds from these child trust funds can be accessed by young people to help give them the best start to adult life,” she stated.

People can locate their account for free by searching on GOV.UK using their National Insurance number and date of birth. Yet, officials have not confirmed how long this campaign will run or what specific outreach methods will be employed.

The government’s efforts aim not only to recover unclaimed funds but also to enhance financial literacy among youth. As this campaign unfolds, more details may emerge about its effectiveness and reach.

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