Parents and young people ‘unaware’ of potential cash windfall

3 mins read

Tuesday 17 October 2023

Could your child have a pot of cash sat waiting to be claimed? We are here to help you find out.

Piggy bank with Child Trust Fund written on the side

What is a Child Trust Fund?

If your child was born between 1 September 2002 and 2 January 2011, the government gave you a voucher worth between £250 and £750 to encourage you to open a Child Trust Fund.

You could then add further savings to the account if you wished. The idea was that you’d invest these vouchers to build a nest egg for your child’s future.

No one would be able to access the savings until your child reached the age of 18.

What if I didn’t invest my child’s voucher?

Good news. If you were one of the 1.7 million parents who forgot to do anything with the voucher, the government invested the voucher on your child’s behalf.

Is it worth the hassle in tracking the account down?

We think so! There’s likely to be a minimum of £100-£500 in the account, and the average balance is £2,100.

I think I remember investing, but I’ve lost the details.

Even if you have lost the details, forgotten where the voucher was invested or simply did nothing with it, all is not lost. Visit Find a Child Trust Fund ( to find your provider.

I now know the provider – what next?

If your child is 16 or older and has mental capacity, they can contact the provider themselves. They will not be able to access their savings until 18. If they are 18 and older, they can choose to spend or reinvest their savings.

What if my child is able to make decisions for themselves, but would like someone else to manage their finances?

The Ministry of Justice has recently launched the ‘Making finance decisions for young people: parent and carer’ toolkit. This guide explains more about mental capacity and covers issues such as obtaining Lasting Power of Attorney.

What if my child doesn’t have mental capacity?

Unfortunately, if your child is unable to independently able to manage their own money, the process is less straightforward.

We are working hard alongside parent campaigner Andrew Turner to change this through our Child Trust Fund campaign.

If your child is under 18, speak with their Child Trust Fund account provider. Some have put in place a scheme, applied on a case-by-case basis, that avoids the need to apply to the Court of Protection.

If your child is 18 years old or over, you will not be able to speak to the provider without your child’s consent. And if your child is unable to give consent because they do not have mental capacity, you will need the Court of Protection order to access the funds on your child’s behalf.

More information can be found on the website.

How can I support the Child Trust Fund campaign?

Send your MP our template email asking them to raise this issue with ministers.

Please share the campaign with your friends and family, as so many families are unaware that their child even has a Child Trust Fund.