Thousands of young adults in the UK are about to receive letters from the taxman telling them they have money they probably forgot existed. HMRC announced last week it will write to all 21-year-olds whose Child Trust Fund accounts remain unclaimed, as part of a government push to reunite more than 750,000 people with savings worth £2,200 ($2,910) on average, GOV.UK disclosed.
'Hundreds of thousands of young people in this country don't know they have a CTF, let alone how to access it,' said Lucy Rigby, Economic Secretary to the Treasury. 'Some will have a couple of thousand pounds sat there that would really help them as they begin adult life.'
