Thousands of students could have a forgotten £2,000 pot waiting to be claimed
Hundreds of thousands of students could be sitting on a forgotten £2,000 pot of cash.
TL;DR
- Child Trust Funds were tax-free savings accounts for children born between September 2002 and January 2, 2011.
- The government initially deposited £250 or £500, with additional deposits later in the child's life.
- The scheme was scaled back in 2010 and axed in 2011, replaced by Junior ISAs.
- Approximately 760,000 Child Trust Fund accounts are unclaimed, each worth an average of £2,000.
- Students and parents can use a government tool on GOV.UK to track down forgotten funds using personal details like date of birth and National Insurance number.