JFF Are Helping 18 Year Olds Get £1,000 Cash Boost!

With the Coronavirus taking central stage in the news day upon day, many are teenagers are missing out of thousands of pounds that they are owed by the government!

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The government’s Child Trust Fund ‘matured’ on 1st September 2020, meaning millions of eighteen-year olds will gain access over £1,000 in government provided money.

Child Trust Funds were a free scheme for those born between 1st September 2002 and 2nd January 2011. The government sent vouchers out to parents as opening payments for the accounts, with increased contributions for children from families with low incomes. This money could then eventually be accessed when the child turned 18.

HMRC estimates that over a million of the Child Trust Fund accounts originally set up have been ‘lost’ or forgotten about, meaning a significant amount of the money provided by the government will remain unclaimed.

With the first set of children with Child Trust Funds turning 18 the 1st September 2020, the Just Finance Foundation have been helping teenagers find out if they have a CTF!

Every 7 minutes someone new uses the JFF Child Trust Fund website to check if they have a CTF.

The Just Finance Foundation are on a mission to:

1) Ensure everyone is reunited with the money in their CTF

2) Ensure that CTFs are used wisely in this difficult financial climate

They have a quick ‘5 Step Guide’ for checking if you have a CTF. They also have a ‘Fund my Future’ quiz to help people understand how they can make the most out of their CTF money.

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