HMRC says 827,000 Child Trust Fund accounts remain unclaimed

Around 827,000 matured Child Trust Fund accounts remain unclaimed across the UK, with an average value of £2,310 per account, according to figures from HM Revenue and Customs. Young adults who do not know which provider holds their account can use a free online locator to find it. HMRC says almost three million matured accounts have been claimed or transferred into an Individual Savings Account since September 2020. Nearly 500,000 young people used the locator in the nine months to August 2026, the department said. Child Trust Funds were long-term, tax-free savings accounts set up for children born between September 1, 2002, and January 2, 2011. They received an initial government contribution of at least £250, and parents or family members could add money. The scheme closed to new accounts in January 2011 and was replaced by Junior ISAs. Young people can take control of an account at 16. It matures when they turn 18, at which point they can withdraw the money, leave it with the provider or reinvest it. The funds are held by banks, building societies and other savings providers, not by the government.