To help all young people get the best possible start in life, the last Labour Government created the Child Trust Fund Scheme. Under the Scheme, each child born from 1st September 2002 had at least £250 put aside for them by the Government, with bigger payments to children from less well-off families. The money went into an account their parents could open with a financial services provider using a voucher sent out by the Government. For children whose parents didn’t use their voucher, the Government set up an account for them. The Scheme was sadly scrapped by the Conservatives in 2011.
From this month, people turning 18 will be able to access the money in their Child Trust Fund Accounts. In Garston and Halewood, more than 9,000 vouchers were sent out by the Government for parents to create accounts for their children. More than 5,000 parents set up accounts, but thousands were also set up by the Labour Government to ensure no local child was left behind. If you have a child turning 18 any time up until January 2029, they may have money they can access in a Child Trust Fund that they didn’t already know about. Find out more about how to access the money here: https://www.gov.uk/child-trust-funds/find-a-child-trust-fund and please pass on to anyone who you know who may be eligible.