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When your child is 16 or 18 - effect on their Child Trust Fund

Once your child is 16 they become responsible for managing their Child Trust Fund (CTF) account. When they are 18, they can take the money out of the account. Find out what their responsibilities are, and get advice if you're worried about them having the money.

When your child is 16 years old

When your child is 16 years old, they take over their CTF account. This means they will need to apply to become the registered contact for the account.

Once your child becomes the registered contact, they can get statements and make changes to the account. For example they will be able to change provider or move to a different type of account.

Your child still won't be able to touch the money in the account until they are 18 years old.

When your child is 18 years old

When your child is 18 they can get the money out of the account. The money belongs to your child so they will be able to decide what to do with it.

If you're worried about your child having the money

Before your child is 18, the account provider will have given them information on how they might want to use the money.

Your child could:

  • decide to put part or all of the money into another savings or investment account
  • put money towards driving lessons, computer equipment or training courses

All children get financial education to help them manage their finances with future needs in mind. There is plenty of advice and support available to help them decide how to use the money.

Provided by HM Revenue & Customs who administer the Child Trust Fund

  • Source Direct Gov
  • Last Updated: 06 Jan 2012