Between 2005 and 2011, the UK Government introduced Child Trust Funds for children born between 1 September 2002 and 2 January 2011 — meaning many young people aged roughly 14–23 today could still have savings set aside in their name.
The idea behind the scheme was to: Help every child have some savings by age 18 Encourage good saving habits Teach the value of personal finance Give young people a financial starting point in adulthood.
Most children received government vouchers of at least £250 to open an account, with higher amounts available for lower-income families. In Wales, additional top-ups were also provided when children started primary school.Importantly — if parents or guardians didn’t open an account themselves, HMRC automatically opened one on the child’s behalf.
Many accounts have now matured, but some young people and families may not even realise the money exists. t may be worth checking if you, your child, or a family member has a Child Trust Fund waiting to be claimed.
BBC News report link...
https://www.bbc.co.uk/news/articles/cjr82gejlxno
Meic Cymru Link below...https://meic.cymru/
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