Child Trust Funds (CTFs) are a form of tax-free savings account that were available to children born between 1 September 2002 and 2 January 2011.
The Government contributed towards these funds which become available for beneficiaries to withdraw on their 18th birthday.
Over the course of the scheme, 6.3 million accounts were opened, and the Government paid £2.0 billion into CTFs. As of April 2022, the market value of Child Trust Funds either not yet matured, or matured but unclaimed, stood at £10.7 billion.