"Thousands of Child Trust Fund accounts are sitting unclaimed - we want to reunite young people with their money and we're making the process as simple as possible," said Angela MacDonald, HMRC's Second Permanent Secretary. This statement emphasizes HMRC's commitment to reconnecting young adults with their unclaimed funds, which could provide financial support as they transition into adulthood.
Around 671,000 young adults have yet to claim their child trust funds, worth 2,200 on average. The government provided initial deposits and additional funds for low-income families, illustrating the scheme's intent to support financial well-being from childhood.
[
Collection
]
[
|
...
]