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Are you the parent of a child born between September 1, 2002 and January 2, 2011?

Updated: Jan 15

Child Trust Funds was a UK scheme introduced to encourage saving for children. The scheme was open to all parents of children born between September 1, 2002 and January 2, 2011.

Until January 2029 about 55,000 teenagers each month will become entitled to a significant amount of money - if they know how to access it! Read on for details.

The Child Trust Fund (or "baby bond") was the centrepiece of Gordon Brown’s plan to encourage asset-based welfare. His objective was to establish a savings habit among children, providing a cushion of financial assets as they embark on adult life and enabling them to be confident in the management of their finances. The scheme was designed to be both universal and progressive and 6.3 million accounts were opened.

According to Which? 76% of parents in the UK opened an account when the scheme launched and the first set of children who are on the scheme have been able to access their money from September 1, 2020.

However HMRC estimates there are 700,000 accounts which have been forgotten about or ‘lost’.

Which? estimates that there could be £2.5 billion in ‘lost’ and ‘unclaimed’ Child Trust Funds.

How Did The Scheme Work?

  • At birth: the government gave every eligible child a voucher worth £250 to open the account, and also a further £250 directly into the accounts of children who live in low income families.

  • At age 7: the government would have made an additional payment of £250 into the account, with a further £250 for children in low income families. (However, just a few hundred thousand children, born between September 1 and July 31 2010, received this 'top up' payment from the government of either £250 or £500.)

  • To be eligible, you needed to be living in the UK and not subject to immigration controls.

  • Money in the account belongs to the child and has been locked until the age of 18.

  • Children are allowed to ‘manage’ the account from age 16.

So How Much Could Be In My Trust Fund?

This depends on four things:

  • The income your parent/guardian had when they set up the account.

  • If any money was added.

  • The type of account that the parent/guardian opened the account with.

  • If your parent/guardian moved the account to a Junior ISA.

Even if no money was added at all, there could be between £250 - £1000 in your account. The amount now in the account could also vary based on the type of account that the voucher was opened with. There were three different types of account a parent could have opened with their voucher:

  1. A traditional ‘Savings Account’ - where you can leave any contributions in cash earning interest

  2. A ‘Stakeholder’ - like a share-based investment account with a capped annual charge of 1.5% annually and allows you to pay in amounts from as little as £10.

  3. A ‘Share based investment account’ - where you can leave contributions invested in stock market investments.

How To Find a Child Trust Fund

You can find out if you have a Child Trust Fund easily using this webpage.

Remember - Child Trust Funds were only opened for children born between September 1, 2002 and January 2, 2011.


Have you read "Christian Social Action: making a difference where you are?" The Rt Hon Stephen Timms MP, who is the Chair of the All Party Parliamentary Group on Faith and Society says: "As hopeful as it is sobering, John Evans’ infectious vision, set out in his guide to outreach in the context of Christian fellowship, provides a stirring call to action. Here is a practical approach, post-pandemic, to help churches tackle the injustice around them. It draws on inspiration from history, but is clear-sighted about the emerging realities of poverty in Britain today, and the barriers faith groups face in addressing them. And it lays out clear steps for trustees and leaders to establish their vision, agree on a plan and convince others of the value of their work.”

You can obtain your copy here.

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