Question
To ask the Chancellor of the Exchequer, what steps he is taking to identify and contact young adults with matured Child Trust Funds that remain unclaimed, including those who are unaware they hold an account or have lost track of which provider holds it;
Answer
As published in HMRC’s 2026 annual savings statistics, approximately 22% of matured accounts are unclaimed. This is down from 25% in April 2025, 29% in April 2024 and 35% in April 2023. HMRC provides a free GOV.UK tracing service and works with providers and other organisations to raise awareness and help young people locate their accounts. HMRC undertakes regular communications activities and works with external partners such as the Universities and Colleges Admissions Service to raise awareness. Additionally, HMRC is planning to write to all 21 year olds with unclaimed accounts informing of their account provider and how to access their funds. HMRC is also undertaking research to better understand the barriers that prevent some young people from accessing their savings. The Government has also established a dedicated Child Trust Fund Taskforce, bringing together Government and industry to help reunite young people with their Child Trust Funds. As part of its work, the Taskforce will examine what is most effective in helping young adults understand how to access their Child Trust Funds and encouraging them to take action HMRC does not hold information on the geographical locations of Child Trust Fund account holders. Therefore, the requested regional breakdowns cannot be provided.
Verdict: GREEN (82/100)
The reply directly answers the question about how the department identifies and contacts young adults who may have lost track of unclaimed accounts. It points to a free GOV.UK tracing service, a planned letter to all 21-year-olds with unclaimed accounts naming their provider, and a Taskforce that will look at how to help young people find and act on their accounts. Some of these measures are still planned or under examination rather than already in operation, so the asker would have a clear picture of the approach but may want to check progress later.
How we got there
| Question item | Coverage | Specificity | Rationale |
|---|---|---|---|
| What the department is doing about identifying and contacting young adults with matured, unclaimed Child Trust Funds, including those unaware they hold an account or who have lost track of which provider holds it. | Addressed | Direct | The reply describes concrete activity aimed at the question's target group: a free GOV.UK tracing service for locating accounts (statement 3), a planned letter to all 21-year-olds with unclaimed accounts naming their provider (statement 5), and a Taskforce that will examine how to help young adults find and act on their accounts (statements 7 and 8). Together these answer how the department is identifying and contacting those who are unaware of or have lost track of their account. |