Question
To ask the Chancellor of the Exchequer, what progress the Child Trust Fund Taskforce has made in tracking unclaimed savings for young adults; and what further steps it plans to take.
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: AMBER (68/100)
The reply gives concrete figures showing the unclaimed share of child trust fund accounts fell from 35% in April 2023 to 22% in 2026, and describes ongoing HMRC tracing work. It does not say what progress the newly established Taskforce has itself made, or clearly attribute the fall to its activity, so the question on progress is only partly answered. The forward-looking part is answered directly, with specific commitments: the Taskforce will examine what best helps young adults access their accounts, HMRC will write to all 21-year-olds with unclaimed accounts, and HMRC is researching barriers to access. Overall, the next steps are well covered, but the asker may still want more detail on the Taskforce's own progress.
How we got there
| Question item | Coverage | Specificity | Rationale |
|---|---|---|---|
| What progress the Child Trust Fund Taskforce has made in tracking unclaimed Child Trust Fund savings for young adults | Partially Addressed | Direct | The reply gives concrete evidence of progress, with the unclaimed share falling from 35% (April 2023) to 22% (2026), and describes ongoing HMRC tracing and awareness work. However, it does not say what progress the Taskforce itself has made, which was only just established, and the falling figures are not clearly attributed to Taskforce tracking activity. |
| What further steps the Child Trust Fund Taskforce plans to take in tracking unclaimed savings for young adults | Addressed | Direct | The reply names concrete forward steps: the Taskforce will examine what is most effective in helping young adults access their accounts, HMRC will write to all 21-year-olds with unclaimed accounts, and HMRC is researching barriers to access. |