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Original poster

Child trust fund - if you didn't set one up

57 replies

Remoteso · 07/09/2021 14:23

Apparently HMRC did on your child's behalf?

www.gov.uk/government/news/thousands-of-teenagers-missing-out-on-child-trust-fund-cash

CTFs were set up for all children born between 1 September 2002 and 2 January 2011 with a live Child Benefit claim. Parents or guardians set up these accounts with Child Trust Fund Providers – usually banks, building societies or investment managers – using vouchers provided by the government. If an account was not opened by the child’s parent, HMRC set one up on the child’s behalf.

I didn't realise this, and I've felt guilty for not setting it up, as well as a new baby had a lot else going on at the time!

I've now filled in the form to see if indeed there is one. Will post back with the news either way.

(And perhaps have the hassle of making it fair for DC who was born after the cut off!)

OP posts:

Bakingtraypan · 07/09/2021 22:36

Didn’t you get an extra payment if you were on a low income?

CovidPassQuestion · 07/09/2021 22:46

How much is in it really depends on when your child was born. My DS was born just before the big crash...his fund is now worth £242- so less than it was actually opened with. NatWest are rubbish!

dementedpixie · 07/09/2021 23:01

@Bakingtraypan

Didn’t you get an extra payment if you were on a low income?

Yes there was extra payment of £250 for some families

edwinbear · 07/09/2021 23:42

Like PP we opened one for DS (12) claimed the government £250 or whatever it was, pay £10 or £20 a month in and it’s currently worth £8.5k.

Payproblems · 08/09/2021 07:24

Covid, mine also was born after the crash.

I think we had the 250 and then df added about 250.

That also plummeted in the crash but bounced back to 850 shortly after.

Then grew little by little but we didn't add any more.

The point being it depends which funds your invested in.

Payproblems · 08/09/2021 07:25

We also moved ours into another investing platform which allows more choice and control

BertieBotts · 08/09/2021 07:28

@Payproblems

Bertie bots, the covid effect was for a few months last year, most market seem to be booming, esp those with exposure to us tech stocks. . What is yours invested in? Covid isn't an excuse

I've got no idea

it just says X number of units at Y value.

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