MoneySavingExpert (MSE), founded by Martin Lewis, has issued a social media appeal urging parents to check if their children are entitled to a Child Trust Fund worth an average of £2,200. The fund applies to all UK children born between 1 September 2002 and 2 January 2011, with the government initially depositing £250 automatically. However, many accounts have been forgotten or lost, leaving an estimated 750,000 unclaimed pots.
How to find a missing Child Trust Fund
MSE advises using the free Find a Child Trust Fund tool on gov.uk. You will need your National Insurance number or your child's, their date of birth, and a Government Gateway ID. Adoption details may also be required. The tool will locate the provider holding the account.
According to MSE, the government added between £50 and £500 initially, with a second payment of £250 or £500 for children turning seven before 31 July 2010. From 1 August 2010 to 2 January 2011, the second payment was scrapped, and the initial payment ranged from £50 to £500. Every account contains a sum of money.
Responses from parents
In response to MSE's Facebook post, many followers shared their experiences. One parent said: "My son has £5,000 in his now to be taken when he's 18 next year." Another commented: "My daughters both got around 4k when they were 18 and the trust fund was switched to an ISA." However, some reported smaller amounts: "My 15-year-old got £65!!" and "Both grandsons only received £500 each from their trusts." One parent shared: "Our son got nearly £10k when he turned 18 earlier this year. He has wisely invested some. Spent some. Paid 1/2 for his car and put some into an easy-access savings account."
Important details
The money is locked away until the child turns 18. MSE noted that the total can vary, with some accounts containing thousands of pounds. The government initially contributed £250 or £500, depending on the child's birth date and family income. Families who missed the initial deposit can still claim the fund.
