90% of 18 year olds who lack the mental capacity to manage their finances are locked out of the money saved for them by their parents under the Child Trust Fund scheme, new figures show ⬇️ Senior Tories are demanding a change to the rules
iNew figures show that 90 per cent of 18-year-olds who lack the mental capacity to manage their finances
Around 6.3 million children were given £250 or more by the Government when they were born, for their parents to save on behalf of their child until they reach 18. But no mechanism was devised to allow learning disabled teens, who do not have the mental capacity to open a bank account, to get their money.
Elizabeth Stanley is a single mother of a learning disabled daughter who has £5,000 in a fund they can’t access. Isabel, 20, has Autosomal Recessive neurodevelopmental disorder and suffers regular seizures. Her mum would like to use the money to buy a wheelchair-accessible vehicle. Maria Cook, has a 14-year-old, son, Ryan, who is autistic with learning disabilties and developmental delay. The family live in West Sussex. Ryan has a Child Trust Fund, with Forresters, with about £1,200 in it.
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