Martin Lewis urges 21-year-olds to check if they’re owed money from child trust funds

• Martin Lewis has warned that many 21-year-olds are missing out on thousands of pounds from unclaimed Child Trust Funds (CTFs).
• CTFs were tax-free savings accounts for children born between September 2002 and January 2011, with government contributions, accessible from their 18th birthday.
• Over 750,000 CTFs remain unclaimed, collectively holding at least £1.6 billion, averaging approximately £2,200 per fund.
• HMRC is currently writing to 21-year-olds to inform them about their CTF and provide instructions on how to claim their savings.
• Lewis advised claimants to be aware of potential scams, as HMRC will only contact individuals about CTFs via letter, not through email, phone calls, or text messages.

IN FULL

Martin Lewis warns people born between these two years could be owed a share of £1.6bn