Martin Lewis urges 15-23s to check Child Trust Funds

Financial expert Martin Lewis has urged young people aged 15 to 23 to check for forgotten Child Trust Funds potentially worth an average of 2,000 pounds each. In a recent episode of ITV's The Martin Lewis Money Show and a clip shared on X on May 14, Lewis highlighted that millions of such accounts exist from children born between September 1, 2002, and January 2, 2011, with many holders unaware of the money.

HM Revenue and Customs is currently sending letters to approximately 750,000 21-year-olds about their unclaimed funds, according to Lewis and HMRC figures. These accounts, known as Child Trust Funds, were introduced by the UK government in 2005 as a way to provide children with a financial head start. Each received an initial government deposit, and families could add further savings or investments. The program ended in 2011, replaced by Junior ISAs. Official data shows around 750,000 funds remain unclaimed, holding a total estimated value of 1.6 billion pounds.

Lewis emphasized that anyone born in the qualifying period who has not yet accessed their account can check immediately without waiting for a letter. "Age 15 to 23? Check now if you've a forgotten 2,000 in a Child...