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Uncovering Child Trust Funds: A Guide

Module 1 focuses on raising awareness about Child Trust Funds (CTFs) and guiding eligible individuals on how to locate and utilize their funds. The lesson includes activities such as watching a video, participating in polls, and discussing options available when CTFs mature. Additionally, students are encouraged to become Young Ambassadors to share knowledge about CTFs with peers.

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Shahzad Ahmed
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14 views3 pages

Uncovering Child Trust Funds: A Guide

Module 1 focuses on raising awareness about Child Trust Funds (CTFs) and guiding eligible individuals on how to locate and utilize their funds. The lesson includes activities such as watching a video, participating in polls, and discussing options available when CTFs mature. Additionally, students are encouraged to become Young Ambassadors to share knowledge about CTFs with peers.

Uploaded by

Shahzad Ahmed
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Module 1

Lesson Title: Coming of Age

Aims

 Build awareness of Child Trust Funds (CTFs) and ensure anyone eligible for a CTF knows how to find
theirs.
 Appreciate that they have options to consider when their CTF matures and how spending it is not the
only choice available.
Learning Outcomes

 Check if they have a Child Trust Fund account that could lead to a stash of surprise cash
 Find out how to track it down with just a little bit of detective work.
 Start thinking about what they could do with it.
 Enter a prize draw for a chance to supercharge their savings.

Links to the Financial Planning Framework

Main Category Framework Subcategories:


Managing risks and emotions associated Identifying and reducing financial risks
with money 16-19 Seeking financial advice
Becoming a critical consumer 16-19 Paying, borrowing and saving
How to manage money 16-19

Vocabulary

Child Trust Fund (CTF), Government Voucher, HMRC, National Insurance Number, Government Gateway
Account, Share Found, Child Tax Credits, Providers, Junior ISA, Lifetime ISA, Help to Save.

Resources

 Video – Episode 1 of The Bread Show  Pen & Paper


 PowerPoint - Module 1 Coming of Age  Online poll platform such as Mentimeter
 Module 1 Student Handout – Big Money Alert  WordWall Quiz – Online and printable
version

Introduce & Play Video (Episode 1 The Bread Show) Time: 7:06
PowerPoint Slides 1 – 4
Share session aims. Introduce the video and suggest to students that they take note of key facts as these will
be required for an activity and quiz to follow:

This first video kicks off an exciting new series explaining how you could have hidden savings just waiting to be
found. We’re going to be talking about Child Trust Funds. If you already know about your CTF, great job; you’re
one step ahead. If it's news to you, don’t worry - we will help you uncover these buried funds step-by-step and
reveal the secrets to locating any unclaimed money in your name.

We’ll also give you the inside scoop on our exclusive prize draw - your shot at winning big to make your
dreams a reality! And there’s more….
Our upcoming videos will guide you on how to use this cash as an opportunity to invest in your future
goals. After the video, the lesson will be looking at how we can make this lump sum a reality for you too!
Module 1
Lesson Title: Coming of Age
Having watched the video, some students will know they didn’t qualify for a Child Trust Fund. However, they
have the prospect of entering the draw and winning a lump sum. They may also have siblings or friends who
qualified for a Child Trust Fund and be able to inform them later.

The following aids might be helpful to give teachers a background on Child Trust Funds:
 10 Things you need to know about Child Trust Funds (CTF)
 Child Trust Fund Factsheets

Starter Activity - Child Trust Funds Time: 20 mins

PowerPoint Slides 5 – 6
Child Trust Fund Overview
Use the questions to test prior knowledge and information shared in the video as a group discussion.

PowerPoint Slides 7 – 10
Worst-case Scenario
What if the Government voucher that was needed to open the Child Trust Fund…
Explain how HMRC dealt with unused vouchers. The ‘interesting fact’ highlights that almost one in three young
people might not know they have a Child Trust Fund account.

How to claim a lost Child Trust Fund


Share the two options with students. Stress the importance of not waiting until 18 to find it as they may be
missing out on their choices. There is a printable handout, Module 1 Student Handout – Big Money Alert, to
take home and investigate further.

Main Activity - Child Trust Funds Poll Time: 15 mins


This two-question poll will give you insight into where students are on their Child Trust Fund journey. This activity
works well where there is time for students to register to find their CTF and follow up at a future stage to ensure
they have completed the process. The third open-ended question allows students to share what they might do
with a lump sum.

PowerPoint Slides 11 - 14

How does this apply to us, a group perspective


Create a written or online poll, for example, Mentimeter (multiple choice option), where students can share
their situation anonymously. Suggest participating is voluntary as some might want to keep their
circumstances private.

When it comes to Child Trust Funds, which statement applies to you?


1. I don't know where my CTF is 3. I don't know where mine is, and I'm pretty sure my
2. I don't know where mine is, but I think my guardians don't know either
guardians do 4. I didn’t qualify for one

What actions will you take?


1. Register to find my CTF 3. None. I know where it is
2. Ask my parents/guardians 4. None. I didn’t qualify

What would you do if you found £2,000 in your Child Trust Fund or were a winner in our Prize Draw?
If access to an online platform is not available, students could submit their answers anonymously on a post-
it. Choose a sample to share with the group.
An open-ended question format on a platform like Mentimeter would allow you to display their answers in a
Word Cloud. How do they compare to the responses from members of the public in our introductory video,
Episode 1 of The Bread Show? This could also be revisited in our other modules or as an assessment tool to
Module 1
Lesson Title: Coming of Age
check if attitudes to spending and savings have changed.

What might you do with the outcome of these polls? Discuss overall responses.
Allocate time to allow students to:
a. Register to find their CTF. They may need time to find their National Insurance Number or create a
Government Gateway account if choosing the HMRC option.
b. Ask their parents/guardians about their CTF
c. Re-run this poll by Module 4 to compare any shift in circumstances

Child Trust Fund options at 16


Bring this activity to a close by summarising the CTF options when they turn 16. Students have options at 16,
but these require research, and they may wish to seek advice from parents/guardians or a financial adviser.

Young Ambassador Invitation Time: 5 mins


This could be an excellent opportunity for students to share their knowledge and teach their peers about Child Trust
Funds. You may choose to select confident learners to take on more leadership roles in the planning and delivery
process. Students could select tasks they are interested in, such as options for how they present the information,
sharing The Bread Show video on social media, attending a short training session and displaying posters and leaflets.

Powerpoint Slide 15
Become a Young Ambassador
Establish student interest in the Ambassador programme. Share Found, a registered charity helping young
people trace their lost CTFs, offers a Young Ambassador programme, for which they provide training. Teachers
can also become Ambassadors. For further information, contact: [Link]@[Link]

How might this topic be taught across different subject areas?


This topic could be delivered by any subject teacher, using supporting videos and fact sheets referred to in this
lesson plan. Occasionally, Share Found runs informative Child Trust Fund Q&A sessions for teachers and
practitioners working with young people. For further information, contact: [Link]@[Link]

PSHE: To recognise and manage the influences on their financial decisions; to access appropriate support for
financial decisions (L20) and recognise the wider impact of their purchasing choices (L21)

Reflections
Powerpoint Slides 16 – 19
Reminder to ask about their Child Trust Fund, take the info home and enter the prize draw!
What were the key takeaways from today's session, and how do you anticipate applying them in your personal
life? It might be helpful to collate their answers using a platform, such as Mentimeter’s Word Cloud, to record
the outcomes of this lesson.
Module 1 Coming of Age Multiple Choice Quiz: WordWall. Present in a format of your choice, or use the
printable version provided. Answers: 1=D, 2=B, 3=C, 4=B, 5=A, 6=B, 7=D, 8=A

What other Free Resources are available?

Young Money/Young Enterprise My Money Week: Activity-3-Funding-My-Future-16-19


This resource presents three case studies for experiential learning to explore future orientation, planning, and
goal setting. The case studies can be used to investigate some of the many choices young people will make
when they reach 16 and can take control of their account, and 18 when their Child Trust Fund account matures.
Whilst some may choose to spend their money when they turn 18, they must know what other options are
available.

Common questions

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Educators can facilitate the investigative process by providing students with resources such as guides to track their CTFs using HMRC channels, encouraging sharing of experiences, and implementing quizzes or polls to assess understanding and progress. Educators can also invite students to Young Ambassador programs to further explore and share insights about CTFs .

Understanding options with Child Trust Funds can shift young people’s attitudes from immediate gratification toward a more balanced approach to spending and saving. They may opt for strategies that ensure financial security, like investing in ISAs, once they comprehend the long-term benefits and available financial tools .

Critical consumer education empowers students with Child Trust Funds to make well-informed financial decisions, equipping them to navigate complex financial products like investments and savings accounts. This knowledge is crucial in today's landscape, where financial products are varied and choices can significantly affect long-term wealth. It encourages analytical thinking and the evaluation of financial options .

To locate a lost Child Trust Fund, individuals need to obtain their National Insurance Number and may create a Government Gateway account. They should use these details through the HMRC to trace the CTF. Additionally, understanding government handouts and how they interacted with CTFs at the time of opening can aid in the search process .

Students may face challenges such as lack of awareness about the existence of their CTF, not having their National Insurance Number, or understanding how to use government resources like the Government Gateway account. Mitigation involves educational initiatives to raise awareness, providing step-by-step guides for finding CTFs, and support for obtaining necessary documentation .

Awareness and knowledge of Child Trust Funds can significantly impact financial decisions by making young people more conscious of their available financial resources, encouraging them to explore options beyond spending, such as saving or investing. This awareness can reduce financial risks and improve long-term financial planning, as highlighted by the lesson on managing money and financial risks .

'The Bread Show' provides an engaging platform to raise financial awareness about Child Trust Funds by simplifying complex financial concepts and presenting them in an accessible manner. Such multimedia resources can bridge the gap between theoretical knowledge and practical application, enhancing comprehension and retention .

The use of a prize draw incentive can effectively increase engagement by providing a tangible reward for participation, which can pique interest and motivate students to engage with the educational content. However, while this can increase initial interest, it may not guarantee deeper understanding or long-term behavioral change in financial literacy .

Child Trust Funds provide a financial platform for young adults reaching 18, offering a lump sum that can be pivotal for future financial endeavors. Young adults can choose to spend, save, or invest these funds in options like Junior ISA or Lifetime ISA to support long-term goals. Effectively utilizing these funds requires understanding the available options and possibly seeking advice from financial advisers .

The Young Ambassador program can foster leadership by allowing students to actively engage in promoting financial literacy, thus reinforcing their understanding of Child Trust Funds. This role can also empower students to teach peers, which deepens their knowledge through teaching and advocacy-based learning .

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