West Lothian teens could be missing out on cash lump sum

dailyrecord.co.uk:

West Lothian teenagers could be missing out on a stash of cash.Anyone who has not yet claimed their matured Child Trust Funds savings could have thousands of pounds waiting for them, reminds HM Revenue and Customs (HMRC).Child Trust Funds are long-term savings accounts set up for every child born between 1 September 2002 and 2 January 2011.To encourage future saving and start the account, the government provided an initial deposit of at least £250.The savings accounts mature when the child turns 18 years old.

Eligible teenagers, who are aged 18 or over and have yet to access their Child Trust Fund account, could have savings waiting for them worth an average of £2,100.If teenagers or their parents and guardians already know who their Child Trust Fund provider is, they can contact them directly.

Alternatively, they can visit GOV.UKAngela MacDonald, HMRC’s Second Permanent Secretary and Deputy Chief Executive, said: “Teenagers could have a pot of money waiting for them worth thousands of pounds and not even realise it."We want to help you access your savings and the money you’re entitled to." Don't miss the latest news from the West Lothian Courier.