Forum | £2,000 Awaits: Unclaimed Funds for 18-20 year-Olds by Ryorry

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£2,000 Awaits: Unclaimed Funds for 18-20 year-Olds 23:20 - Dec 8 with 1020 views

A possible £2K UK Govt. gift awaits If you/your kid were born between 1 September 2002- 2 January 2011. Article by Paul Lewis,presenter of BBCR4 Moneybox Live.

"There is £1.7 billion languishing unclaimed in Child Trust Fund (CTF) accounts that a million people aged 18 to 20 could take out or reinvest.

Aug. 30th 2023 was the third anniversary of the first CTFs maturing. They were created by the then Chancellor Gordon Brown in the early noughties. Every baby born from 1 September 2002 to 2 January 2011 had a CTF set up for them, seeded with at least £250 of public money. Further Treasury contributions and gifts into their funds by relatives and friends make the average fund worth around £2,000.

Everyone with a CTF becomes entitled to take the money out or reinvest it on their 18th birthday. But more than four out of ten of those eligible have not done so."

https://www.radiotimesmoney.com/news/2000-awaits-unclaimed-funds-for-18-year-old

[Post edited 9 Dec 2023 2:01]


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£2,000 Awaits: Unclaimed Funds for 18-20 year-Olds on 11:51 - Dec 9 with 618 views

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