Hundreds of thousands of young Scots yet to claim £2,242 Child Trust Fund savings, HMRC warns
Young people across Renfrewshire are being urged to check if they have unclaimed savings sitting in a Child Trust Fund, as HM Revenue and Customs (HMRC) says hundreds of thousands across the UK have yet to access their money.
The call comes during National Apprenticeship Week, which runs from 9th to 15th February 2026.
HMRC says 758,000 young people could still have money in a Child Trust Fund that they have not claimed .
Child Trust Funds were set up for children born between 1st September 2002 and 2nd January 2011. The government paid in at least £250 to start each account. The accounts were tax-free savings pots designed to give young people a financial boost when they reached adulthood.
Young people can take control of their account at 16. When they turn 18, the account matures and they can withdraw the money or reinvest it.
HMRC says the average Child Trust Fund is worth £2,242 .
In Scotland, there are more than 14,500 young people aged 24 and under on Modern Apprenticeships . For those starting work, training or university in areas such as Paisley, Johnstone, Renfrew and Erskine, that money could help with travel costs, tools, rent deposits or study equipment.
Child Trust Funds are not held by the government. They are managed by banks, building societies or other savings providers.
Young people who know where their account is held can contact their provider directly. Those who are unsure can use the free Child Trust Fund locator tool on GOV.UK.
To search, they need their National Insurance number and date of birth. If they do not know their National Insurance number, it can be viewed through the HMRC app.
HMRC says nearly 1.7 million under-25s have downloaded the app, which also allows users to check their tax code, employment history and Pay As You Earn details .
The Child Trust Fund scheme closed in January 2011 and was replaced with Junior ISAs . However, anyone born within the qualifying dates could still have money waiting for them.
For families in Renfrewshire with children who have recently turned 18 – or young adults who have never checked – it could mean a welcome financial boost at a time when the cost of living remains high.
More information, including how to search for an account, is available on www.gov.uk.