HMRC issues urgent 'claim your £2,242' message to people of a certain age View 2 Images

The latest statistics show that over 750,000 people have yet to claim their matured Child Trust Fund. HM Revenue and Customs (HMRC) is encouraging thousands aged between 18 and 23 to locate their accounts, as each one is worth an average of £2,242.

Child Trust Funds are long-term, tax-free savings accounts established for children born between 1 September 2002 and 2 January 2011, with a minimum initial government deposit of £250. Youngsters can take control of their account at 16, but once they turn 18, the account matures, and they can choose whether to withdraw the money or reinvest it, reports the Mirror .

The payments were halted due to the updated rules for the Child Trust Fund. The Governme

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