Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how much Child Trust Funds, introduced in September 2002 and now eligible for maturity, are worth as of September 2020.

Since 2002, around 6.3 million CTF accounts have been set up, roughly 4.5 million by parents or guardians and a further 1.8 million set up by HMRC where parents or guardians did not open an account. From 1 September 2020, the oldest children eligible for a Child Trust Fund will have turned 18 and will be able to access their money. As set out in HMRC’s press release in August 2020 it is expected that over 700,000 accounts will mature each year.

HMRC cannot provide an estimate on how much Child Trust funds, which were introduced in September 2002 and now eligible for maturity, are worth as of September 2020. This analysis would require a significant amount of resource and therefore unachievable in the timescale provided.