{"id":591,"date":"2024-10-10T09:45:48","date_gmt":"2024-10-10T08:45:48","guid":{"rendered":"https:\/\/www.wealth-generation.com\/insights\/?p=591"},"modified":"2025-01-17T10:30:17","modified_gmt":"2025-01-17T10:30:17","slug":"income-protection","status":"publish","type":"post","link":"https:\/\/www.wealth-generation.com\/insights\/income-protection\/","title":{"rendered":"\u00a31.4 billion in Forgotten Child Trust Funds"},"content":{"rendered":"<p>The Government has released data showing that a huge \u00a31.4bn is currently sat unclaimed and unused\u00a0 in Child Trust Funds (CTFs).<\/p>\n<p>CTFs were made available to all children in Britain born between\u00a01 September 2002 and 2 January 2011. Parents were issued a voucher for \u00a3250 or \u00a3500 to be paid into the CTF at outset, but if it hadn&#8217;t been used after 12 months the government simply opened up an account on the child&#8217;s behalf.<\/p>\n<p>They can be accessed when the child turns 18. The money can then be withdrawn or transferred to an adult ISA. They can also be transferred before maturity into a Junior ISA.<\/p>\n<p>More than 25% were opened by the government rather than parents which goes some way to explain the high level of unclaimed CTFs.<\/p>\n<p>Anyone searching for an unclaimed CTF can use\u00a0<a href=\"https:\/\/www.gov.uk\/child-trust-funds\/find-a-child-trust-fund\" target=\"_blank\" rel=\"noopener\">this online government tool<\/a>\u00a0to help find it.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Government has released data showing that a huge \u00a31.4bn is currently sat unclaimed and unused\u00a0 in Child Trust Funds (CTFs). CTFs were made available to all children in Britain born between\u00a01 September 2002 and 2 January 2011. Parents were issued a voucher for \u00a3250 or \u00a3500 to be paid into the CTF at outset, but if it hadn&#8217;t been used after 12 months the government simply opened up&hellip;<\/p>\n<p> <a class=\"more-link\" href=\"https:\/\/www.wealth-generation.com\/insights\/income-protection\/\">Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":191,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,1],"tags":[],"class_list":{"0":"post-591","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-financial-planning","8":"category-uncategorised"},"_links":{"self":[{"href":"https:\/\/www.wealth-generation.com\/insights\/wp-json\/wp\/v2\/posts\/591","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.wealth-generation.com\/insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wealth-generation.com\/insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wealth-generation.com\/insights\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wealth-generation.com\/insights\/wp-json\/wp\/v2\/comments?post=591"}],"version-history":[{"count":2,"href":"https:\/\/www.wealth-generation.com\/insights\/wp-json\/wp\/v2\/posts\/591\/revisions"}],"predecessor-version":[{"id":632,"href":"https:\/\/www.wealth-generation.com\/insights\/wp-json\/wp\/v2\/posts\/591\/revisions\/632"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wealth-generation.com\/insights\/wp-json\/wp\/v2\/media\/191"}],"wp:attachment":[{"href":"https:\/\/www.wealth-generation.com\/insights\/wp-json\/wp\/v2\/media?parent=591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wealth-generation.com\/insights\/wp-json\/wp\/v2\/categories?post=591"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wealth-generation.com\/insights\/wp-json\/wp\/v2\/tags?post=591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}