Government Urges Families to Claim Unclaimed Child Trust Funds Worth Over £1.6bn

By the Editorial Team · Wednesday, July 1, 2026

The UK government is urging families to check for unclaimed Child Trust Funds, with over £1.6 billion potentially remaining in accounts established for children born between 2002 and 2011. To recover these savings, a new taskforce has been set up and individuals can use an online service to locate their accounts, which can then be transferred into Junior ISAs or adult ISAs for continued tax-free growth.

The UK government is encouraging families to check whether any Child Trust Funds (CTFs) remain unclaimed, with more than £1.6 billion potentially sitting untouched in accounts set up for children born between September 1, 2002, and January 1, 2011. These accounts, designed to provide a financial boost to young people, average around £2,200 each.

CTFs were established by the government to help children accumulate savings from an early age. Initially, eligible parents or guardians received a voucher worth £250 to open an account, which increased to £500 for low-income families. In cases where no action was taken, the tax authority HM Revenue and Customs (HMRC) automatically opened CTF accounts on behalf of the children. Of the 6.3 million accounts created, approximately 1.8 million were set up by HMRC without direct parental involvement.

Despite these efforts, many families may be unaware of their children’s funds, particularly if they have relocated, did not update contact information, or lost account details. Sarah Coles, head of personal finance at AJ Bell, highlighted that an estimated 750,000 accounts remain unclaimed, representing a significant sum that could support families in need. “It’s a crying shame, because they’re worth £2,200 on average,” Coles noted.

The CTF scheme was eventually replaced by the Junior Individual Savings Account (Junior ISA). While Junior ISAs do not include a government contribution, they allow tax-free savings of up to £9,000 annually and offer broader investment choices.

To address the issue of unclaimed funds, the government has announced the creation of a taskforce tasked with reconnecting young people with their lost or forgotten CTFs. Families and individuals can use the government’s online “Find a Child Trust Fund” service to locate accounts. Once the account provider is identified, account holders can contact the firm to access their savings.

Financial experts suggest that while some may need immediate access to the funds, it can be beneficial to keep part of the savings invested. Funds can be transferred into a Junior ISA, which generally offer lower fees and more investment options, or into an adult ISA once the account holder turns 18. This approach may help maximize the potential growth of the savings accrued through the original CTF allocation.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.