{ "format" : "linked-data-api", "version" : "0.2", "result" : {"_about" : "https://eldaddp.azurewebsites.net/answeredquestions.text?min-answer.questionFirstAnswered.=2019-11-05T14%3A59%3A57.697Z&hansardHeading=Child+Trust+Fund", "definition" : "https://eldaddp.azurewebsites.net/meta/answeredquestions.text?min-answer.questionFirstAnswered.=2019-11-05T14%3A59%3A57.697Z&hansardHeading=Child+Trust+Fund", "extendedMetadataVersion" : "https://eldaddp.azurewebsites.net/answeredquestions.text?min-answer.questionFirstAnswered.=2019-11-05T14%3A59%3A57.697Z&_metadata=all&hansardHeading=Child+Trust+Fund", "first" : "https://eldaddp.azurewebsites.net/answeredquestions.text?_page=0&min-answer.questionFirstAnswered.=2019-11-05T14%3A59%3A57.697Z&hansardHeading=Child+Trust+Fund", "hasPart" : "https://eldaddp.azurewebsites.net/answeredquestions.text?min-answer.questionFirstAnswered.=2019-11-05T14%3A59%3A57.697Z&hansardHeading=Child+Trust+Fund", "isPartOf" : "https://eldaddp.azurewebsites.net/answeredquestions.text?min-answer.questionFirstAnswered.=2019-11-05T14%3A59%3A57.697Z&hansardHeading=Child+Trust+Fund", "items" : [{"_about" : "http://data.parliament.uk/resources/1687680", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1687680/answer", "answerText" : {"_value" : "
The government carefully considered the proposal outlined in The Share Foundation\u2019s letter of 24 November 2023 and decided it was not deliverable for several reasons.<\/p>
<\/p>
The Share Foundation have proposed a complex scheme which would require the co-operation of ISA and Child Trust Fund (CTF) managers, other Government Departments and banks and building societies to identify the relevant young people (and whether they are in receipt of benefits or government payments) and to facilitate the transfer of information and funds between those agencies. Such a scheme is likely to engage with data protection issues and interfere with an individual\u2019s right to manage their own financial affairs.<\/p>
The Government attaches great importance to ensuring young people can access their matured CTFs. HMRC assists these young people through its online tracing service and through targeted communications appropriate to the age group. It will continue its work with providers, industry representatives and other stakeholders exploring ways of increasing the profile of CTFs and enabling account owners to be aware of and trace their accounts.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4580", "label" : {"_value" : "Biography information for Baroness Vere of Norbiton"} } , "answeringMemberPrinted" : {"_value" : "Baroness Vere of Norbiton"} , "dateOfAnswer" : {"_value" : "2024-02-19", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-02-19T15:51:07.19Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-02-05", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Child Trust Fund"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask His Majesty's Government, further to the letter from the Economic Secretary to the Treasury to The Share Foundation on 23 January where he stated that \"the government currently has no plans to introduce a 'Default Withdrawal at 21' process\" for unclaimed and unregistered HMRC-allocated child trust funds, what are their reasons for declining this proposal.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4234", "label" : {"_value" : "Biography information for Baroness Lister of Burtersett"} } , "tablingMemberPrinted" : [{"_value" : "Baroness Lister of Burtersett"} ], "uin" : "HL2202"} , {"_about" : "http://data.parliament.uk/resources/1687291", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1687291/answer", "answerText" : {"_value" : "
For the tax years 2020-2021 to 2022-2023 HMRC replied, in total, to over 157,000 requests to trace Child Trust Fund (CTF) accounts. HMRC does not hold data on how many of those who made the request successfully linked to their CTF accounts. Some may be below 18 and seeking to trace their account in anticipation of account maturity. Others may have traced the account but decided not to access it at that point, withdrawn their CTF savings or may have transferred the savings to an ISA or other type of current or savings account. (HL2166)<\/p>
<\/p>
Primary responsibility for communicating with account holders and their registered contact (usually a parent) lies with the CTF account providers. The government is committed to helping people identify and access the savings they are entitled to and continues to explore new routes to reunite young people with their matured CTFs.<\/p>
<\/p>
HMRC actively engages with the industry, other government departments, organisations such as the Money and Pensions Service, and youth focused charities to raise awareness of CTFs amongst young people. HMRC also issues a range of communications and provides resources for key intermediaries such as the University and Colleges Admissions Service, who have greater influence and visibility amongst the CTF audience.<\/p>
<\/p>
The government\u2019s current plans will reunite most accounts with their owners, but there may be some cases where further action will be required. The government will monitor how many matured accounts remain open and judge when it is appropriate to intervene in other ways.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4580", "label" : {"_value" : "Biography information for Baroness Vere of Norbiton"} } , "answeringMemberPrinted" : {"_value" : "Baroness Vere of Norbiton"} , "dateOfAnswer" : {"_value" : "2024-02-13", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "HL2167"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-02-13T17:03:41.047Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-02-02", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Child Trust Fund"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask His Majesty's Government what is the total number of unique search requests for child trust funds which have been entered to date by young people aged 16 to 21 into the Government Gateway and which have resulted in successful linkage to their accounts.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4234", "label" : {"_value" : "Biography information for Baroness Lister of Burtersett"} } , "tablingMemberPrinted" : [{"_value" : "Baroness Lister of Burtersett"} ], "uin" : "HL2166"} , {"_about" : "http://data.parliament.uk/resources/1687292", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1687292/answer", "answerText" : {"_value" : "
For the tax years 2020-2021 to 2022-2023 HMRC replied, in total, to over 157,000 requests to trace Child Trust Fund (CTF) accounts. HMRC does not hold data on how many of those who made the request successfully linked to their CTF accounts. Some may be below 18 and seeking to trace their account in anticipation of account maturity. Others may have traced the account but decided not to access it at that point, withdrawn their CTF savings or may have transferred the savings to an ISA or other type of current or savings account. (HL2166)<\/p>
<\/p>
Primary responsibility for communicating with account holders and their registered contact (usually a parent) lies with the CTF account providers. The government is committed to helping people identify and access the savings they are entitled to and continues to explore new routes to reunite young people with their matured CTFs.<\/p>
<\/p>
HMRC actively engages with the industry, other government departments, organisations such as the Money and Pensions Service, and youth focused charities to raise awareness of CTFs amongst young people. HMRC also issues a range of communications and provides resources for key intermediaries such as the University and Colleges Admissions Service, who have greater influence and visibility amongst the CTF audience.<\/p>
<\/p>
The government\u2019s current plans will reunite most accounts with their owners, but there may be some cases where further action will be required. The government will monitor how many matured accounts remain open and judge when it is appropriate to intervene in other ways.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4580", "label" : {"_value" : "Biography information for Baroness Vere of Norbiton"} } , "answeringMemberPrinted" : {"_value" : "Baroness Vere of Norbiton"} , "dateOfAnswer" : {"_value" : "2024-02-13", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "HL2166"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-02-13T17:03:41.097Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-02-02", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Child Trust Fund"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask His Majesty's Government what steps they are taking to inform young adults with unclaimed child trust funds, particularly those from low-income backgrounds, how to access their accounts.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4234", "label" : {"_value" : "Biography information for Baroness Lister of Burtersett"} } , "tablingMemberPrinted" : [{"_value" : "Baroness Lister of Burtersett"} ], "uin" : "HL2167"} , {"_about" : "http://data.parliament.uk/resources/1676803", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1676803/answer", "answerText" : {"_value" : "