Child trust fund

[Hairydogmummy]

Has anyone's child from the 'child trust fund' generation reached 16 and received the money? How does it work? I know my DS who'll be 16 in Nov was one of the first to get one but just wondering if anyone already got to 16 and how it all works. We've had the usual annual statement which is for the year ending mid October but no mention of how the scheme is coming to and end and what happens next. TIA

I thought it was 18?

It is 18. My son is due to get his in about 6 years time. I'm sure that the bank/building society would write to you to say that the account will change to your son/ daughter on a given date.

Really? Oops I thought was 16! He's going to be v disappointed. He thinks he can use some of it for a car as soon as he's 17. Bad mother moment!

@Hairydogmummy don't feel bad, just think of the extra money that will be going into the account and the interest.

He gets control at 16 then access at 18

Its definitely age 18, not 16