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The Guardian - UK
The Guardian - UK
Business
Hilary Osborne

Child trust fund firms face review over efforts to find who owns £1.5bn worth of pots

A twenty-pound note sticks out of a light blue piggy bank's slot
About 6.3 million children born between 1 September 2002 and 2 January 2011 had accounts opened for them under a government scheme designed to encourage saving. Photograph: Gareth Fuller/PA

Child trust fund providers are being put under the spotlight to check they are treating savers fairly and doing all they can to reunite young people with lost accounts.

The Financial Conduct Authority (FCA) said about 760,000 accounts worth an average of £2,000 were yet to be claimed – more than £1.5bn in total – as it launched a review of the market.

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