Child trust funds going unclaimed

Public Accounts Committee reports that -

Over £1.7bn is sitting waiting to be claimed by almost a million young adults, at an average value of approximately £1,900 each…

It is likely that many account-holders may not know about their savings or have lost track of them. As around 887,000 CTFs, or half of all accounts, were for children in low-income families, it is likely that much of the unclaimed money belongs to young people from low-income backgrounds, those who need it most.

More information - https://committees.parliament.uk/committee/127/public-accounts-committee/news/196653/almost-a-million-young-adults-entitled-to-unclaimed-child-trust-funds-worth-17bn/