Missing Child Trust Fund Payment

Fixmyfinances

Hello everyone

I wonder whether anyone can help with a Child Trust Fund query? I have two children, my son was born in August 2005 and my daughter in March 2009. I received a child trust fund voucher for both of my children and opened them an account with Nationwide Building society.

When I received my annual savings statement it showed that my daughter (born 2009) received the second payment when she turned 7, but my son (born 2005) didn’t. So my son who was born several years before my daughter, has half the amount of savings that his sister now has.

Out of my two children I would have thought my son would have been more likely to qualify for the second payment as he was born just as the scheme started, so I find this very odd.

Does anyone know whether my son should have received a second payment and if so can it still be claimed even though the CTF scheme is no longer running?

I feel bad that he has missed out, but his sister didn’t. If he wasn’t eligible for the second payment then I am going to have to top his account up so that they have the same amount!

Thanks in advance

surreysaver

If I remember correctly, the second payment was based upon your personal circumstances. Did your circumstances change?

Fixmyfinances

Hi surreysaver thanks for your reply, I wasn’t working when my son was born in 05 so we were a low income family, I returned to work full time when my daughter turned four, so had a much higher household income. That’s why I am confused as to why my daughter got the second payment but my son didn’t. We were better off a few years after my daughter was born so surely my son would have qualified more than my daughter?

We moved house when my son was about 6 months old, so I am wondering whether they did actually send a second voucher but I didn’t receive it. If that was the case then I would like to find out whether we can still claim it or whether it is lost forever. Thanks again

Alexland

I am not an expert on CTFs but don't understand how a child born in 2009 received a second payment at 7 in 2016 long after the scheme stopped. I also don't understand how a child born in 2005 would receive a payment in 2012? Are you sure the second child didn't just receive an initial extra £250 based on low income? Can you see the transaction history on the account?

https://www.thisismoney.co.uk/money/article-2784904/My-son-turned-7-year-Is-250-CTF.html

Eligible children who turned seven between 1 September 2009 and 31 July 2010 or who qualified for Disability Living Allowance between 6 April 2009 and 5 April 2011 were eligible for extra payments into their CTF accounts.

https://www.moneysavingexpert.com/savings/child-trust-fund-vouchers/

Child Trust Funds (CTFs) are savings accounts that were available for kids born between 1 September 2002 and 2 January 2011, which they could use to deposit free cash vouchers of up to £250 (up to £500 if you were on a low income) that used to be handed out twice to each child by the Government.

Alex

andi2

The 2005 children never got a second payment (I have an October 2005 child & the scheme closed before those payments were due).


Did your 2009 child ever claim DLA? Extra payments were made for children claiming DLA just before the scheme closed.



That's the only possibility that I can think of to explain the difference.

Fixmyfinances

Hi andi2

Thanks very much for your reply. No, we have never claimed DLA, so still don’t understand how my daughter managed to receive a second payment, so strange!

Maybe instead of wondering why my 05 child didn’t receive the second payment I should just be grateful my 09 child did, as I am starting to think maybe she shouldn’t have!! ��

Thanks again for your help ��

Alexland

As per my post above you could have just had low income when the second child was born. No need to have been claiming DLA. Have you checked the account transaction history for what money got added and when?

Fixmyfinances

Hi Alexland

Many thanks for your reply. I don’t have a detailed account history at the moment (although must have done at some point). I only have an annual summary which is jest a brief summary of the accounts. I will have to go to the branch and request more detailed info to find out when the second payment was made.

We were on a low income when my 09 child was born but an even lower one back in 05 which is why I am confused. You would have thought my 05 baby would have qualified for the second payment more than my 09 baby as we were better off in 09 (although still on a low income).

We were classed as a low income family up until 2013 when I returned to work full time.

Thanks again