Unclaimed: More than 670,000 people in the 18 to 22 age group have a combined £1.4bn in matured Child Trust Funds
Young people aged between 18 and 22 are being urged to come forward and claim savings pots worth an average of £2,212.
More than 670,000 people in this age group have a combined £1.4 billion in matured Child Trust Funds that have yet to be claimed.
These funds are long-term, tax-free savings accounts that were set up for every child born between September 1, 2002, and January 2, 2011, with the Government depositing £250.
They are held in banks, building societies and other savings providers.
Young people can take control of their Child Trust Fund at 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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