HMRC Advises Gen Z to Claim Unclaimed Child Trust Funds

Thousands of young adults are urged to check for unclaimed savings averaging £2,200.

Around 671,000 young adults have yet to claim their Child Trust Funds, which average £2,200 each.
Child Trust Funds were set up for children born between September 1, 2002, and January 2, 2011, with initial government deposits of at least £250.
Young people can take control of these accounts at 16 and withdraw the funds when they turn 18.
HMRC advises against using third-party agents to locate these funds due to potential high charges.
Parents and guardians can also check for unclaimed funds using a free tool on the gov.uk website.