Do you have £1,500 ‘languishing’ in a Child Trust Fund? How to track ‘lost’ cash down


HMRC released savings data today which showed huge amounts of money is sitting idly in CTFs. This, according to expert analysis, could be costing families thousands of pounds.

“If you’re paying into a CTF, it might feel like an easy option for putting away a nest egg for your kids: you already have the account, so you may as well make use of it.

“However, it has much less to offer than a Junior ISA, and you can now switch from one to the other.


“The two accounts have the same tax benefits; the annual limit is the same; the money is still locked away until the age of 18; and it will belong to the child at that stage.

“However, the JISA has a number of advantages. If you’re keen to keep your money in cash, they tend to offer much more competitive rates.

Money held within a CTF can be transferred to a JISA but as CTFs closed up, many families may have lost track of their accounts.


Fortunately, there are options available for those looking to track down their funds and Sarah concluded on this: “If you’ve lost track of your child’s CTF, if you picked your own fund, or topped it up, start by checking if you have any paperwork.

“If you didn’t get round to making a decision, the government would have chosen a stakeholder CTF for you.

“If you don’t know where that is, you can track down your CTF through the government website – as long as you have parental responsibility for the child.


“You need to sign into the Government Gateway, or sign up for an account.

“Then you can fill out a form with your child’s details, and they will inform you of the provider holding your child’s CTF.”


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