21-year-olds

HMRC launches campaign to help 21-year-olds find forgotten child trust funds worth £2,200

HMRC has launched a campaign to contact 21-year-olds with unclaimed Child Trust Funds, tax-free savings accounts set up by the Labour government in 2005. Over 6 million CTFs were created for children born between September 2002 and January 2011, with average balances of £2,200. More than 750,000 accounts remain unclaimed despite two-thirds of recipients being over 18 and entitled to access their money.