24 October 2025
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Savings stash worth thousands waiting for 758,000 young people

Politics
News
23 October 2025 16:11
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Savings stash worth thousands waiting for 758,000 young people

Latest figures reveal 758,000 18 to 23 year olds have yet to claim their matured Child Trust Fund as HM Revenue and Customs (HMRC) urges them to find their accounts, worth on average £2,242 each.

Child Trust Funds are long term, tax-free savings accounts which were set up for children born between 1 September 2002 and 2 January 2011 with an initial government deposit of at least £250, News Cover reports, citing UK government.

Young people can take control of their account at 16, but once the account holder turns 18 it matures, and they can decide whether they want to withdraw the money or re-invest it.

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