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Child Trust Fund (CTF)

Over longer periods of time (five years or more), investments such as stocks, shares and funds have the potential to give you higher returns compared to cash savings. But the value of investments can fall as well as rise. There is a chance you may get back less than you put in. Any tax efficiencies referred to are those applying under current legislation, which may change. Eligibility criteria, fees and charges apply.

What is a Child Trust Fund?

Child Trust Funds are long term, tax-free savings accounts for children that were set up by the Government in 2005.

You will have a Child Trust Fund if you were born between 1st September 2002 and 2nd January 2011, unless you, your parents or guardians have transferred this into a Junior ISA.

The money is invested in a tax-efficient fund in your name until you turn 18. Once you’re 18, you can take control of your investment and choose to:

  • continue investing
  • make a withdrawal
  • transfer to another ISA provider.

Any income and gains on the account are exempt from UK income tax and UK capital gains tax.

The holder of the Child Trust Fund (the child), the registered contact (the person with parental responsibility) or other third parties (such as grandparents and friends), can collectively make contributions up to the subscription limit allowance for each year, which is currently up to £9,000.

HMRC has produced a document with useful information: 10 things you need to know about Child Trust Funds (PDF, 91KB)

Where is my Child Trust Fund?

Child Trust Funds are held in various UK Child Trust Fund Providers. You can find out where your Child Trust Fund is located by checking:

GOV.UK – Find a Child Trust Fund.

To apply, you will need:

  • to register and create a government gateway login
  • your full name and address
  • child’s full name and address
  • child’s date of birth
  • child’s national insurance number or unique reference number if known.

(Alternatively, you can post these details to HMRC if preferred).

You can also check through The Share Foundation.

Missing Money - Lost Child Trust Fund - helping 16 & 17 year-olds find their account

To apply, you will need your:

  • child’s full name and address
  • child’s date of birth
  • national Insurance number if known/applicable.

Some organisations ask for a fee to find Child Trust Funds.  The above are free so there’s no need to pay anyone to find your Child Trust Fund.  

How do I manage my Child Trust Fund?

Our online portal makes it easy to check up on your Child Trust Fund, and to access your investment when you turn 18.

The registered contact (the person who has parental responsibility for the child) can register on the portal at any time. The child can take over responsibility for the account at 16 but they won’t be able to access the portal until they are 18. 

If your child is unable to manage their own financial affairs, you may want to consider setting up a Power of Attorney or obtaining a Court of Protection order which will allow you to manage their finances for them. For more information on how to do this please visit the gov.uk page.

The registered contact for an account can see the latest value of the account, top it up, set up a direct debit, and tell us if you have changed address. 

To register for the portal, all you need is your:

  • name
  • date of birth
  • client account number (8-digit number starting with 1 is contained on your annual statements, which is addressed to the registered contact).
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What happens when my Child Trust Fund matures?

We will write to you 20 days before your 18th birthday with information about your investment and details of how to register for the online portal.

On your 18th birthday we’ll move your investment from the Child Trust Fund into a Matured Child Trust Fund. Your money will be kept  invested in the Personal Portfolio Balanced Fund until you choose what to do with it.

Once registered online, you’ll be able to make a choice about your money. You can:

  • continue investing with us by moving the investment into a Royal Bank of Scotland ISA
  • withdraw all or part of your investment into a UK current or savings account in your own name
  • transfer to another ISA provider.

Whichever option you choose we’ll need to take you through some additional checks to verify that you are the correct owner of the account.  We might need copies of documentation, which you can post to us. You can find a list of the identification documents we accept below.

It can take up to a few weeks before the money is released.

If you decide to keep your money invested, this will be moved from the matured Child Trust Fund into an adult ISA within 24 hours. 

What account do I need to access my money?

You’ll need to have a UK current or savings account in your name if you choose to make a withdrawal, so be sure to get that sorted out in advance.

If you don't currently have a suitable account, you can set one up with most high street banks, building societies, credit unions or the post office.

For more information on our accounts please see the account options below, which may help you decide which one is the best for your circumstances.

For more information on our accounts please see the account options below which may help you decide which one is the best for your circumstances.

Current accounts

Move your funds to a current account

Keen to get your hands on your money? You might want to put the funds into a current account.

Savings

Start saving for something great

Saving isn’t just for a rainy day. How about saving for lots of sunny days on an overseas adventure? Or maybe you’re thinking about buying your first car? If you’ve already got plans for the money in your Child Trust Fund then a savings account could be the best place to put it.

Investments

Investing for later

Some things are worth waiting for. So if you want to start saving for a longer term goal (usually five years or more), then investing could be a good option for you. Before deciding on investing you must first ensure you are aware of the risks.

Can I gift more money to my child’s Child Trust Fund?

Although Child Trust Funds are closed to new business, you can add money to an existing Child Trust Fund account. You can do this by setting up a direct debit or paying in by cheque or by debit card over the phone. Whichever option you choose, you should be aware that:

  • once the money is gifted it becomes the property of your child and cannot be withdrawn until your child reaches 18
  • you can gift lump sums by cheque of £10 or more
  • you can gift a regular monthly amount from £10 a month
  • the maximum amount that can be saved each year is £9,000. A year starts on your child’s birthday and runs to the day before their next birthday.

Other Frequently Asked Questions (FAQs)

Using the online portal

Investing the Child Trust Fund money

Transferring or withdrawing the money

Managing the fund

Get in touch

You can only give us your maturity instruction once you turn 18. On your 18th birthday, your Child Trust Fund will convert into a Matured Child Trust Fund and you can tell us what you want to do with your money.

Call us

For general questions, to top up your Child Trust Fund or updating contact details, you can call us on 0345 300 2585. Relay UK 18001 0345 300 2585.

Telephone lines open Monday-Friday 8am – 6pm (excluding bank holidays). Calls are recorded.

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Write to us

If you'd prefer, you can write to us at:

RBS Collective Investment Funds Limited
PO Box 9908
Chelmsford
CM99 2AF 

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Learn more about investments

Whether you’re an experienced investor or just finding out what investing is, we’ve got a range of articles to help you understand more about investing.

We regularly update our articles depending on what’s happening in the market so check back for future updates.

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