Martin Lewis warns parents of 'two options' for Child Trust Fund Martin Lewis was asked by a parent when the best time to transfer their daughter's Child Trust Fund upon turning 18 Martin Lewis has advised parents on Child Trust Funds (Image: ITV ) Finance guru Martin Lewis has been advising parents on how to handle their children's Cash ISAs in the latest episode of his podcast series. Hosting alongside Adrien Chiles, a listener asked about Child Trust Funds, and when the best time was to transfer money following their 18th birthday. ‌ Article continues below The MoneySavingExpert.com founder said: "First of all well done for tracking your daughter's Child Trust Fund down. Read more: Martin Lewis issues Premium Bonds warning and addresses 'conspiracy theory' "If your child was born between September 1 2002 and January 2 2011 - so that's roughly aged 14-23 if you've got the child trust fund the state would have put money in and parents could have added money too. ‌ "There are hundreds of thousands of people who have lost track of those child trust funds you can track them down on gov.uk. So if that's ringing a bell for you or for your child of that age then go and track it down." When your child's trust fund matures, it will automatically be moved into an ISA, but it will be in an ISA with the same product provider you got your child's trust fund from. Martin added: "The first thing I will say is you should make an active choice to have it in the right place not a default choice to have it moved automatically into that place. ‌ "And go and find if it's the best stocks and shares provider for you or if it's the best cash ISA interest rates which are paying up to 4.8 per cent at the moment on a standard rate." He pointed towards setting up a Lifetime ISA, which is ideal for those looking to buy a house for the first time, or save for retirement. Martin explained: "There's a Lifetime ISA as long as you're not buying a property above £450,000 if she's going to buy a property at some point in the future. Article continues below "You get a 25 per cent boost from the state for whatever you save in there so you can port up to £4,000 into a Lifetime ISA and then the state would add £1,000 on top. "They would be your two main options - or she could spend some of it if she wanted to!"