People born between these years in line to receive £2,200 payment in b | UK | News

More than 750,000 Brits could be missing out on £2,200, it has been revealed. The UK Government says large numbers of people may be queuing to claim cash under the Child Trust Fund.

And now residents born between September 1, 2002 and January 2, 2011 are being asked to check if they are eligible.

The Child Trust Fund program was launched by the government to provide young people with a sum of money when they turn 18 and encourage them to develop savings habits throughout adulthood.

The government says people born between these certain ages and whose parents receive child benefit will most likely have a trust fund account.

Usually these will have been opened by a parent or guardian, but in some cases HMRC may have opened an account in a young person’s name.

This means that people who turn 18 after September 1, 2020 will be able to access the account and withdraw money. There is also the option to move the money into an ISA or other type of savings account.

A statement on the UK Government website says: “If your parent or guardian does not have the details of your CTF account, you can ask HMRC who your CTF provider is by completing an online form. [at] www.gov.uk/find-child-trust-fund. When you contact your provider they will tell you how much money you have in your CTF account.

“To access this form you will need your National Insurance number. This consists of two letters, such as QQ123456A, followed by six numbers and a letter.

“If you don’t know your National Insurance number, you can find out how to claim it on the helpline.

“If you can’t contact your CTF provider immediately after your 18th birthday, don’t worry; they’ll keep your investments safe in a protected account until you tell them what you want to do with your money.”

Visit the UK Government website for more information.