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Wednesday, 19 August 2020

Teenagers To Get Access To Child Trust Funds For First Time



Millions of teenagers are set to get access to their own pot of money over the next nine years.

Millions of teenagers are set to benefit for the first time from money in Child Trust Funds (CTFs) that has been waiting for them since they were young children.

Since 2002, around 6.3 million CTF accounts have been set up, roughly 4.5 million by parents or guardians and a further 1.8 million set up by HMRC where parents or guardians did not open an account.

This means some children do not know there are accounts in their name, so are unaware their money is waiting for them.

To read further please click HERE