UK Child Trust Funds: £1.52 billion in savings remains unclaimed

Approximately 760,000 matured Child Trust Fund accounts remain unclaimed in the United Kingdom, with an estimated collective value of £1.52 billion. Research analyzing Financial Conduct Authority figures suggests that the average unclaimed account is worth roughly £2,000.

Child Trust Funds were long-term, tax-free savings accounts established for eligible children born between September 1, 2002, and January 2, 2011. While many were opened by parents or guardians, HMRC may have created them automatically for some children.

The Financial Conduct Authority has issued warnings regarding tracing companies that charge high fees, sometimes up to £400, to locate these funds. However, individuals can use the official HMRC tracing service to find their money for free.