12.03.24

An important debate took place in Parliament on Tuesday 19th March in support of the Child Trust Fund Access campaign which Renaissance Legal founded in 2016.

The Westminster Hall debate considered the thousands of disabled youngsters unable to access savings held in their Child Trust Funds and Junior ISAs.

We have been working with parent Andrew Turner, Contact charity and financial providers including One Family and Foresters Financial, to lobby the government for change.

We are grateful to Jeremy Quin, MP for Horsham, who led the Westminster Hall debate, “Child Trust Fund access for people seeking to manage the finances of others”.

Watch the debate here

Why this debate is important

More than 80,000 disabled young people have a Child Trust Fund – a type of tax-free savings account. However, due to lacking mental capacity, the vast majority of are struggling to access their own savings. This is because families must apply to the Court of Protection – a process that many find complicated, lengthy and in many cases, costly.

We all agree that there must be a process in place that protects vulnerable people from financial abuse. But alternative solutions are available. One is the expansion of the Appointee scheme, under which many parents are entrusted to manage their child’s benefits.

At the debate, MPs asked the Government to do more so that disabled youngsters don’t miss out on their savings.

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Author:
Philip Warford

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