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1623905
registered interest false more like this
date less than 2023-04-25more like thismore than 2023-04-25
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Child Trust Fund more like this
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask His Majesty's Government what steps they will take to ensure that the Child Trust Fund payments for children born between 1 September 2022 and 2 January 2011 are taken up in full. more like this
tabling member printed
Lord Hylton more like this
uin HL7440 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2023-05-05more like thismore than 2023-05-05
answer text <p>The government is committed to helping people access the savings and money they are entitled to and continues to explore new routes to reunite young people with their Child Trust Funds.</p><p> </p><p>While primary responsibility for communicating with account holders and their registered contact lies with Child Trust Fund (CTF) providers, HMRC works closely with providers, the wider industry and the Money and Pensions Service to ensure that young people are aware of, and can access, their CTFs. This includes requiring CTF providers to write to their customers to inform them of their options in their 17th year and to provide statements annually after the account holder turns 18.</p><p> </p><p>HMRC also issues a range of communications through regular press releases, social media posts and by providing resources for key intermediaries who have greater influence and visibility amongst the CTF audience.</p><p> </p><p>The government’s current plans will reunite the vast majority of accounts with their owners, but there may be some cases where further action will be required. The government will monitor how many accounts remain open and judge when it is appropriate to intervene in other ways.</p><p> </p>
answering member printed Baroness Penn more like this
question first answered
less than 2023-05-05T10:10:27.48Zmore like thismore than 2023-05-05T10:10:27.48Z
answering member
4726
label Biography information for Baroness Penn more like this
tabling member
2018
label Biography information for Lord Hylton remove filter