One million missing Child Trust Funds: track your kid's account down

3 September 2018

The first children to receive CTF accounts are set to turn 16 – but millions are missing out.

Parents are being urged to track down lost Child Trust Funds as the first children to receive the savings accounts are set to turn 16.

Up to one million of these Government-funded accounts are thought to have been lost or forgotten about. It means children are missing out on a vital savings boost as millions is left languishing in these forgotten funds.

Child Trust Funds (CTFs) were introduced in 2002 as a way of encouraging parents to save for their children. Every child born between 1 September 2002 and 1 January 2011 was awarded a trust fund, an account set up by the government with an initial amount of up to £500.

This initial amount came in the form of a voucher which parents could put in an account with a CTF provider of their choice. If they didn’t use the voucher the government did so on their behalf. Around 1.74 million accounts were opened in this way – almost a third of the total number of accounts.

Parents, family, friends and the children themselves could save money into the account up to a certain amount, most recently £4,260 a year.

In the following years, some six million children were enrolled into the government-funded accounts. But the Government stopped making these contributions in 2011 and the scheme became defunct, replaced that year with the Junior Isa (Jisa).

Those who already have a CTF can continue to save money into the account until it matures when the child reaches age 18. Similar to an Isa, there are savings and investment accounts available and there is no tax to pay on the gains made.

The 1 September marked 16 years since the launch of the Child Trust Fund and millions of pounds are languishing in these now-defunct accounts. The first children to receive a Child Trust Fund will be about to take over the managing of the account, which comes under their control when they reach age 16. In September alone some 75,000 CTF children will turn 16.

Gavin Oldham, chairman of the Share Centre, says: ‘If your son or daughter has their 16th birthday coming up, they’ll be one of the first young people able to control their own Child Trust Fund. While they’re not allowed to withdraw money in the account until age 18 they will now be able to have the statement sent to them, change their account provider and manage the investments themselves if they wish.’

According to OneFamily, the average amount held in a CTF by children born in 2002 is £2,175. Meanwhile, a child who had their CTF money invested when they were born and is now aged 16 could have achieved an investment return of 108.2 per cent in that time. That means, even if they only had the initial Government contribution of £500 they would now have more than £1,000.

Children with a CTF were widely argued to be at a disadvantage after Junior Isas were introduced – at which point the interest rates on CTF accounts dropped as well as the number of accounts on offer. After much campaigning, the Government agreed CTFs could be transferred into Jisas in 2015.

The current best rate available on a CTF is 2.25% from Skipton Building Society whereas the top Junior Isa rate is a significantly better 3.5% from Coventry Building Society.

Those who wish to switch from a CTF to Junior Isa need to contact their provider and request the switch and fill out a transfer form. You’ll need to ensure the Jisa provider accepts transfers from CTF accounts.

Steve Ferrari, managing director of child trust funds at OneFamily, says: ‘There is still an opportunity to earn money on these accounts and we urge parents to continue to invest in them. If you are unsure of what has happened to your child’s account or which provider it was originally invested with, track it down.’

To track down a lost pot head to HMRC’s website and submit your information; you should find out where your child’s CTF is within 15 days.


In reply to by anonymous_stub (not verified)

I found file box My son Lee William Taylor Child trust fund £250 vouchers and letter last 2006 so How inform contact child trust fund online? What I do now? Or still apply it?

In reply to by Michelle Taylor (not verified)

Junmi and tayo adeniyi

Find trust fund

In reply to by anonymous_stub (not verified)

High iam trying to terrace wich company is dealing with my doughter shahida begum haafiza date of birth 13 09 2006 its a child trust fund thank you

In reply to by anonymous_stub (not verified)

I am trying to trace my two sons child trust funds as I have not received any correspondence from them for a few years

In reply to by anonymous_stub (not verified)

Hi I was wondering if you could help me find my child government fund as I’ve moved a few times And can’t remember where I put it , there d.o.b are .. 30/04/04 and 22/09/09

In reply to by anonymous_stub (not verified)

Hi please can you find my child's trust fund I've lost the paper work.Date of birth 15.12.2003 Thankyou Kellie Jones

In reply to by anonymous_stub (not verified)

Hi could you trace my childrens trust funds please has ive lost the paoer work for them there dates of birth are 8th/11/2008 28th/03/08

In reply to by anonymous_stub (not verified)

I have thee children date of birth 21/6/2oo2 and 2009 2010 would like to know were there money is thank you as this is lost and need to trace it to put in there bank

In reply to by anonymous_stub (not verified)

I need help to tract my son reference number for child trust fund because Natwest can't find my son details. Thank you for your help .

In reply to by anonymous_stub (not verified)

Could you please find my grandchildrens trust fund ive got a residence order if you need a copy i will send ive all ready sent owens but need to find benjamin cox 09/09/2003 and amelia cox 26/03/2007

In reply to by anonymous_stub (not verified)

I need to find my childrens trust fund accounts

In reply to by Michelle Brooks (not verified)

Child trust fund

Lost the account

Need to find out what's and…

Need to find out what's and how to I find my child trust fund for 2 off my kids

Child Trust Fund

Please can you help I am trying to find out about my sons child trust fund his name is Ibrahim Mehmood d.o.b 30.06.2007.
I can be contacted on 07540249136.

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