Parents across the UK are being urged to set aside just 20 minutes to potentially claim thousands in free cash for their children. Shockingly, millions remain unclaimed in forgotten Child Trust Funds (CTFs), with the average pot now worth £2,000.
The Hidden Windfall for British Families
HMRC reports that over 500,000 CTFs remain unclaimed, collectively holding more than £1 billion. These government-backed savings accounts were automatically created for children born between 2002 and 2011, with initial deposits of £250-£500.
How to Claim Your Child's Money
- Check eligibility - Children born between 1/9/2002 and 2/1/2011 qualify
- Gather details - You'll need the child's name, address, date of birth and National Insurance number
- Use HMRC's tracker - The free online tool takes minutes to complete
Why Parents Are Missing Out
Many families moved house or simply forgot about these accounts. With some funds now worth over £5,000 due to investment growth, financial experts are calling this "the easiest money you'll ever claim."
Sarah Coles of Hargreaves Lansdown warns: "These aren't small sums - we're seeing some 18-year-olds discovering £10,000+ they never knew they had."
What Happens to Unclaimed Funds?
After three years of inactivity, CTFs are automatically transferred to the Treasury. However, the money remains claimable at any point - you just need to know where to look.
With university fees rising and house deposits becoming increasingly unaffordable, this forgotten money could prove life-changing for many young adults.
