Child Trust Funds: Could £2,000 of unclaimed money be waiting for you?

More than £1.4 billion is languishing in unclaimed savings accounts belonging to 18-22 year olds. Here is how to track down lost Child Trust Funds.

Teenage boy looks at laptop while he sits with headphones on
More than 670,000 young people are yet to claim their Child Trust Fund
(Image credit: Imgorthand via Getty Images)

A senior MP is backing calls for pay-outs from Child Trust Funds to be made automatically, given more than 670,000 young people are yet to claim their money.

More than £1.4 billion is languishing in unclaimed savings accounts belonging to 18-22 year olds. At age 18, savers are allowed to withdraw the money that has been squirrelled away for them. According to HMRC, 671,000 young people have yet to claim their cash.

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Ruth Emery
Contributing editor

Ruth is an award-winning financial journalist with more than 15 years' experience of working on national newspapers, websites and specialist magazines.

She is passionate about helping people feel more confident about their finances. She was previously editor of Times Money Mentor, and prior to that was deputy Money editor at The Sunday Times. 

A multi-award winning journalist, Ruth started her career on a pensions magazine at the FT Group, and has also worked at Money Observer and Money Advice Service. 

Outside of work, she is a mum to two young children, while also serving as a magistrate and an NHS volunteer.

With contributions from