Child Trust Fund

(asked on 16th January 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how many Child Trust Fund accounts were taken out between their introduction in September 2002 and their replacement by junior ISA's in January 2011; and how much was invested in them from public funds.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 21st January 2020

HMRC has published the number of CTF and contributions in the following publications for the years requested. The following links provide the last edition of these publications.

Link to “Child Trust Fund Statistical Report” – https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255886/statistical-report.pdf

Link to “Child Trust Funds: detailed distributional analysis” - https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255881/dda.pdf

HMRC does not have records of, nor have they made any estimations of, CTF accounts where the child or their parents is unaware of which firm is maintaining the account. CTF providers are required in legislation to send out regular statements to the contact for the account. However, although the primary relationship is between the account provider and the child’s parents, if they don’t know which provider is managing their child’s account, they can use the following online form to track the account.

https://www.gov.uk/child-trust-funds

HMRC estimates the market value of all Child Trust Funds (as at 2015-16), which will start to be eligible to be accessed by their beneficial holder from September 2020, to be £7,450 m. This estimate used the latest complete Child Trust Fund information available to HMRC – relating to 2015-16. This may not necessarily be reflective of the market value the accounts when they reach maturity.

A complete list of authorised Child Trust Fund Providers is held at the following webpage: https://www.gov.uk/government/publications/list-of-authorised-child-trust-fund-providers/child-trust-fund-account-providers

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