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  • Writer's pictureAga - Mortgage Broker

Did you know your child might be entitled to a pay out from Child Trust Fund?

Child Trust Fund programme was launched 15 years ago for every child born between September 1, 2002 and January 31, 2011. Children were offered a voucher worth £250 by the Government. 

In some cases, another payment of £250 was made if the child was born between September 1, 2009 and July 31, 2010. Poorer families received £500 in each case. 

Government would set up a stakeholder account on child’s behalf where parents could also top up with own payments.

As the accounts will now be maturing, many families may not realise, or may have forgotten, that their children might be eligible for a pay out!

If your child is 18, they can find details of their fund by visiting: find-a-child-trust-fund

The Share Foundation charity can help locate your child’s fund if they are over 16.

At the age of 18, your child can either request a pay out or they might move the money to another saving account, for example an ISA account.

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