Child Trust Funds: Fifth Cohort Gain Access This September
Young adults born on September 1, 2007 will be able to access their Child Trust Funds (CTFs) for the first time this September, as they officially turn 18.
CTFs were introduced by the UK Government to help families—especially those on lower incomes—build savings for their children’s future. The scheme began for children born on or after September 1, 2002, making this year’s group the fifth cohort to benefit from the initiative.
The first accounts were opened in January 2005, when providers began setting up funds and distributing government-funded vouchers to kickstart each child’s savings journey.
As these young adults come of age, they now have the opportunity to take control of their funds—whether to invest further, support education, or take their first financial steps into adulthood.
What Did the Government Pay Into Child Trust Funds?
Between September 1, 2002 and January 2, 2011, the UK Government made financial contributions to support children’s savings through Child Trust Funds (CTFs).
At birth, every eligible child received a £250 voucher paid into a CTF account. Families receiving the full Child Tax Credit were granted an additional £250, bringing the total to £500 for children from the lowest-income households.
Some children also received a top-up voucher at age seven, but eligibility varied over time:
- Children born between September 1, 2002 and July 31, 2010 received both the birth voucher (£250 or £500) and the age seven voucher.
- Children born on or after August 1, 2010 did not receive the age seven payment.
The scheme was discontinued on January 1, 2011, meaning children born after that date did not receive any CTF vouchers.
These contributions were designed to give every child a financial foundation—and for many, they’ve grown into a meaningful resource as they reach adulthood.
Can You Add Money to a Child Trust Fund?
Yes—you can! Contributions to a Child Trust Fund (CTF) have always been allowed, and they still are. Up to £9,000 per year can be added to the account until the child turns 18.
In CTF terms, a “year” runs from the child’s birthday to the day before their next birthday. It’s important to note that any unused portion of the £9,000 allowance does not roll over—if it’s not used within that year, it’s lost.
Until age 18, the CTF grows tax-free. From age 16, the child can take control of the account—meaning they can manage how it’s invested—but they cannot withdraw the funds until they turn 18.
Once they reach 18, they have two options:
- Cash in the fund and use the money however they choose
- Transfer it into an adult Individual Savings Account (ISA), allowing the investment to continue growing
At this point, the original CTF account will be closed, and the young adult takes full ownership of their financial future
Forgotten Where Your Child’s CTF Was Opened?
If you know which provider managed your child’s Child Trust Fund (CTF), you can contact them directly. This is especially important when your child turns 16 and wants to take control of the account, or at 18, when they’re eligible to withdraw the funds.
Not sure who the provider is? No problem—you can use the Gov.uk online search tool to locate the account. To use the tool, you’ll need:
- Your National Insurance number
- The child’s full name and date of birth
- The child’s National Insurance number, if available, to help narrow the search
Children who were in local authority care were also eligible for a CTF. If this applies to you or someone you know, it’s worth checking whether a fund exists.
On average, CTFs hold around £2,000 when accessed at age 18. However, children whose families made regular contributions could have significantly more. Regardless of the amount, this money is waiting to be claimed by anyone born within the eligible years.
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