Unclaimed: More than 670,000 people in the 18-22 age group have a combined £1.4bn in overdue child trust funds
Young people aged 18 to 22 are being urged to come forward and claim savings worth an average of £2,212.
More than 670,000 people in this age group have a combined total of £1.4 billion in expired Child Trust Funds that have yet to be claimed.
These funds are long-term, tax-free savings accounts that were set up for each child born between 1 September 2002 and 2 January 2011, into which the Government deposited £250.
They are held in banks, building societies and other savings providers.
Young people can take control of their Child Trust Fund at age 16 and withdraw funds when they turn 18 and the account matures.
Those who may be eligible can contact their Child Trust Fund provider directly, if they know who it is.
Otherwise, they can go to gov.uk/child-trust-funds to find their provider.
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