Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how many letters HMRC has sent to 21-year-olds with unclaimed matured Child Trust Funds since April 2026; how many of those accounts have since been claimed; and whether he will bring forward legislation to enable the automatic release of unclaimed HMRC-allocated accounts.

The Government is committed to reuniting young people with their Child Trust Funds (CTFs).

HMRC is going to write to all 21 year olds who have not yet accessed their CTFs. HMRC is currently implementing systems changes to ensure account holders’ details are up to date and to automate this exercise. HMRC will start sending the letters at scale next year, and the project will continue until all CTFs have matured. In the meantime, in order to test the letters and maximise their positive impact, HMRC has been manually issuing letters on a small scale. Of the first batch of customers contacted, 32% have, so far, claimed their CTF.

The Government is aware of proposals for the automatic release of funds in unclaimed matured CTF accounts, where the account was opened by HMRC and the account holder has turned 21

The Government does not have the authority to access or transfer these funds. These savings belong to the account holders and are held by private sector providers.

I have established a dedicated Taskforce to reduce the number of unclaimed matured CTF accounts and improve outcomes for account holders. This brings together Government and industry to strengthen tracing activity, increase engagement, and support access to funds.