Are young people aware of unclaimed child trust funds at 18?

[Seymour5]

Children born between 2002 and 2011 had child trust funds set up by the then government. There are about 750,000 unclaimed, worth around £2200 each. Young people can claim them at 18. I’m aware because oldest DGD got hers recently.

My daughter turned 18 in May.
Should we have had a letter from her provider? Because we haven't.
We used to get yearly statements but they stopped ages ago.

My DD is only 15 but hers only has about £75, so up from the original £50 sure, but nowhere near the £2k figures I’m seeing mentioned! Were they higher to start with or something. Or have I missed a trick?!

@Dirril i think they had high interest rates for the first six months?? I know my sons did.
@Needmorelego if you contact your provider they should be able to tell you what happened to the child trust fund. My eldest sons changed to an ISA

DS got a letter reminding him off it before he was 18 now 20

They won’t be worth 2k plus if extra money has not been paid in over the years.

I think the original investment by the government was £250.

Sorry, could you clarify something here?? Who does his apply to?

All children born between 2002-2011. It was called a child trust fund and you could stick it in an ordinary savings account or put it in stocks and shares. A lot of people added money to it and it grew by a lot on stocks and shares. Someone on here had £45k at 18. My dc had £25K and that was from just adding the child benefit to it monthly from the age of 1. Wish i’d been a bit more clued up about investing but we were happy with that lump sum. Dc will use it towards a property deposit.

Shame it’s not something they kept up as ot did encourage families to save or invest for their children.

@shellyleppard I will have to find the old paperwork. I can't remember who it was with. It changed a couple of times.

@Needmorelego i think there is a tracking thing on the gov.uk website??

https://www.onefamily.com/

Call them. They’re really helpful. My daughter is 22 now but like many, I’d forgotten about it. Moved house and didn’t update details. Remembered when I was clearing some paperwork out. My daughter’s had the initial £250 from the government in it and £200 added by my parents very early on. Then nothing. She got around £1200 when she hit 18.

I am stuck in a nightmare loop of trying to set up Government Gateway accounts.
Can't complete setting it up because we don't have photo ID.
We don't have passports and don't want them so was going to get provisional driving license to use as photo ID (for both me and daughter) but to apply online you need to have photo ID 😂😂😂
(I have discovered I can get a form from a post office and do it that way without ID....but that means making a trip to a Post Office).
It's all quite amusing if it wasn't so annoying.

@Needmorelego its a right bloody nightmare!! You have my sympathy

Thanks !

I tracked down the trust fund when dc was coming up to 18. I hadn’t put anything into it at all from the initial £250 and he got about £700

DD turned 18 in May. I invested it when the £250 was first given and then forgot about it. She got £1200.

Hopefully all those that have the funds can access them.