Martin Lewis has issued a reminder to young Brits aged 21 or older that they could be sitting on more than £2,200. Thousands of 21-year-olds have an overlooked or forgotten Child Trust Fund, valued at an average of £2,200.
What is a Child Trust Fund?
From 2002 to 2011, the majority of children born in the UK were given hundreds of pounds in tax-free savings from the Government, deposited into a Child Trust Fund in their name. Parents could then choose to contribute additional funds, with the money becoming accessible once the child reached 18.
Unclaimed Funds
Yet, as of this month, April 2026, over 750,000 Child Trust Funds remain unclaimed, according to MoneySavingExpert, with more than £1.6 million waiting to be collected. HMRC has confirmed it is contacting all 21-year-olds with unclaimed Child Trust Funds to inform them of their account and that they can now withdraw their money.
The Government is focusing on those aged 21 and above as they should have had some interaction with HMRC by that point (for instance, when starting their first employment), reports the Express.
Government Response
Economic Secretary to the Treasury, Lucy Rigby, commented: "Hundreds of thousands of young people in this country don't know they have a CTF, let alone how to access it. Some will have a couple of thousand pounds sat there that would really help them as they begin adult life. I'm determined that those who have CTFs are made aware they have this money."
She added: "Together, we will ensure funds from these Child Trust Funds can be accessed by young people to help give them the best start to adult life."
How to Claim
Martin Lewis' Money Saving Expert has cautioned anyone who receives a Child Trust Fund letter to get in touch with the fund's provider directly, rather than HMRC. It stated: "Warning: You should always contact the CTF provider directly using contact information listed on their website. Don't contact HMRC to access your funds. You also don't need to wait for HMRC to contact you about your CTF as it's free and easy to locate yourself."
It further noted that there is no need to engage a claims firm, as many levy hefty fees for the service. It explained: "Some firms offer to trace lost CTFs and charge £100s for the service, targeting teens and young adults with ads online and via social media."
It added: "But HMRC has warned that using a third-party firm is likely to take longer and that you will still need to provide the same information to the claims firm that you'd need to complete the search yourself."
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