FCA calls on young adults to check for unclaimed child trust funds

Data from HMRC revealed 760,000 matured child trust funds, worth an average of £2,000 each, remain unclaimed. The regulator said this means "hundreds of thousands of young people could be missing out on money that could go towards new laptops, textbooks, rent deposits or the everyday costs of student life – or setting them up with savings for their future". Child Trust Funds were available to children born between 1 September 2002 and 2 January 2011, with the scheme now closed to new applicants. About 6.3 million accounts were opened. Companies are offering to ‘find' and claim chil...