More than 750,000 lose track of free money from child trust funds
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A significant number of child trust funds, reportedly over 750,000, have gone unclaimed, with the government stating that there is a substantial amount of unclaimed savings. Young adults, particularly those between 15 and 23 years old, are being advised on how to track down and claim their funds. The total value of these unclaimed savings is said to be £1.6bn, although the status of some other funds, such as housing accelerator money, is also uncertain.
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