Hundreds of thousands of young adults could be sitting on savings they do not even know exist—and the government is now ramping up efforts to help them find the money.
A new awareness campaign has been launched to reconnect young people with forgotten Child Trust Funds (CTFs), with the average unclaimed account now worth around £2,200.
CTFs were introduced in 2005 as a long-term savings scheme for children born between 1 September 2002 and 2 January 2011. Millions of accounts were opened during the scheme’s lifetime, designed to give young people a financial boost when they reached adulthood.
But many account holders remain completely unaware they have one.
According to the government, more than 750,000 Child Trust Fund accounts are still unclaimed, prompting concerns that large sums intended to support young adults are sitting untouched.
To address this, HMRC is launching a targeted campaign encouraging people to use the free “Find My Child Trust Fund” service available on GOV.UK. As part of the initiative, all 21-year-olds with unclaimed accounts will be contacted directly to make them aware of the funds.
The move reflects growing recognition that the money could make a meaningful difference at a key stage in life—whether towards education, housing, training or general living costs.
Economic Secretary to the Treasury Lucy Rigby said many young people have no idea they hold a CTF, despite some accounts containing several thousand pounds. She stressed the importance of ensuring account holders know how to access the savings intended to support them as they enter adult life.
The campaign also highlights a broader issue around long-term savings awareness. Many CTFs were opened automatically by parents or guardians years ago, and details may since have been lost, forgotten or never passed on.
For those eligible, the process of tracing an account is free and relatively straightforward—but awareness remains the biggest barrier.
As living costs continue to put pressure on younger generations, the government hopes reconnecting people with these funds could provide a timely financial boost for many who were unaware they had it waiting for them.
