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The Guardian - UK
The Guardian - UK
Comment
Rajiv Prabhakar

Young people! Could thousands of pounds be sitting in a bank account with your name on it?

CTF HMRC
Piggy bank in locked chains
The latest data shows that up to April 2022 there is £943m in matured CTFs that is unclaimed Photograph: joebelanger/Getty Images/iStockphoto

Imagine that you are about to turn 18 and there is £2,000 sitting in a bank account on your birthday. What would you do with it? Spend it on a laptop, clothes for work or save it for a rainy day? But there’s a catch: you don’t know the money is there and so you do not get it.

This may be the case for thousands of young people today. The latest data on child trust funds (CTFs) up to April 2022 shows that there is £943m in matured CTFs lying unclaimed or untransferred.

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