- The value of unclaimed Child Trust Fund (CTF) money climbs to over £1.5 billion, as government urges 758,000 young people to locate and access their money (Source: Savings stash worth thousands waiting for 758,000 young people | GOV.UK)
- The average CTF is now worth over £2,240, with the value of unclaimed CTFs averaging £1,980
- Recent figures from HMRC show there are 27,000 unclaimed CTF accounts with a value over £10,000
- Anyone aged between 18 and 23 can quickly check for lost accounts using the government website
Charlene Young, senior pensions and savings expert at AJ Bell, comments:
“Government is urging young people aged between 18 and 23 to check whether they are missing out on a growing pile of unclaimed money in Child Trust Funds (CTFs).
“The latest annual savings statistics showed that nearly £9 billion remains sat in CTF accounts, which closed for children born after 2 January 2011. Worryingly, the problem of lost CTFs – where a child has turned 18 but their CTF funds go unclaimed – is getting worse. As of April 2025, there were 758,000 accounts that have not been claimed, with the total value growing by another £100 million since last year to £1.5 billion.
“Well over half of the money in these accounts – £899 million – matured over a year ago. On top of this, more than 27,000 unclaimed accounts had a balance of £10,000 or more, with 280,000 pots containing over £1,000 (see table).
Source: HMRC, AJ Bell. Continuing CTFs have matured but not yet been claimed. Includes CTFs maturing earlier in 2024/25 as well as previous tax years not claimed as at 5 April 2025.
“Many lost CTFs will be because parents and children aren’t even aware they have the account, don’t know which provider the money is with or how to track it down. Over a quarter of accounts were set up by the government because parents failed to do so within a 12-month window.
“Another growing problem is that some CTF providers are also charging huge sums for managing the accounts, eating into the money, as highlighted by the 2023 Public Accounts Committee report. The report indicated many accounts are charging 1.5% annually for a portfolio of passive funds, whereas a Junior ISA on a modern platform might cost around 0.25%, plus the cost of a tracker, which can be as little as a few basis points. Many savings providers drop the interest rate payable on accounts when they mature, meaning returns on unclaimed cash go from bad to worse, often losing value in real terms once inflation is taken into account.
“Any child born between 1 September 2002 and 2 January 2011 who hasn’t already got details of their account should track it down. You can go to the government’s online tool and fill in a form to trace the money, using your national insurance number and date of birth. HMRC said that over 563,000 young people used the tool in the 12 months to August 2025.
What you can do with a lost CTF
“Once you’ve tracked down the money it’s up to you what you do with it. You can transfer it to an adult ISA in your own name or withdraw the money. Until then your money will just sit in an account that no one else has access to, possibly paying very high charges. Anything you transfer to an adult ISA at maturity will not count towards your annual ISA allowance, which is £20,000 for over 18s.
“If you have a CTF but are still under 18, moving it to a Junior ISA could mean you may be able to reduce your charges and will likely have a much bigger investment choice. The money will still be locked up until you turn 18, but the tax-free benefits of an ISA will still apply.”
Source: HMRC/AJ Bell
