Notice Regarding Unclaimed Money in Child Trust Fund Accounts

May 13, 2026, 12:27
UKFinance

Introduction

A large number of government-funded savings accounts have not yet been claimed by the citizens who are now old enough to access them.

Main Body

Child Trust Funds (CTFs) were tax-free savings accounts created for people born between September 1, 2002, and January 2, 2011. These accounts received money directly from the government and became available for the owners to withdraw once they turned eighteen. Recent data shows that over 750,000 of these accounts are currently inactive. The total value of this unclaimed money is at least £1.6 billion, which means the average account holds about £2,200. Consequently, many 21-year-olds are missing out on a significant amount of money. To fix this problem, HM Revenue and Customs (HMRC) has started a formal process to notify eligible 21-year-olds by sending them letters in the post. Furthermore, financial expert Martin Lewis has warned people about scams. He emphasized that HMRC will only contact individuals via physical mail; therefore, any emails, phone calls, or text messages regarding these funds should be treated as fraud.

Conclusion

HMRC is now helping young adults recover £1.6 billion in forgotten savings through official written letters.

Learning

⚡ The 'Connection' Upgrade

At the A2 level, you likely use simple words like and, but, and because. To reach B2, you need to use "Logical Connectors" to make your writing sound professional and fluid.

Look at how this text moves from a problem to a solution:

1. The Result Marker: Consequently

  • A2 style: Many people forgot their money, so they are missing out.
  • B2 style: Many 21-year-olds are missing out... Consequently, HMRC is acting.
  • The Rule: Use Consequently when one event is the direct result of another. It is the "grown-up" version of so.

2. The Addition Marker: Furthermore

  • A2 style: HMRC is sending letters and Martin Lewis is giving warnings.
  • B2 style: HMRC has started a formal process... Furthermore, Martin Lewis has warned people about scams.
  • The Rule: Use Furthermore to add a new, important piece of information to your argument. It is more powerful than also.

3. The Logic Marker: Therefore

  • A2 style: HMRC only uses mail, so emails are scams.
  • B2 style: HMRC will only contact individuals via physical mail; therefore, any emails... should be treated as fraud.
  • The Rule: Therefore is used to introduce a logical conclusion. If A is true, therefore B must be true.

🚀 Pro-Tip for Fluency: Notice that these words often appear at the start of a sentence followed by a comma (,). This creates a rhythmic pause that gives you time to think and makes you sound more confident to a listener.

Vocabulary Learning

inactive (adj.)
Not currently active or in use
Example:Many of the savings accounts remain inactive because no one has claimed them.
formal (adj.)
Following established rules or procedures
Example:HMRC has started a formal process to notify eligible young adults.
eligible (adj.)
Having the right to receive or do something
Example:Only those who are 21 years old are considered eligible for the letters.
fraud (n.)
Wrongful deception to gain a benefit
Example:Any emails claiming to be from HMRC should be treated as fraud.
recover (v.)
To regain or get back something that was lost
Example:HMRC is helping people recover their forgotten savings.
forgotten (adj.)
Not remembered or acknowledged
Example:The forgotten savings were still waiting in the accounts.
scams (n.)
Deceptive schemes to cheat people
Example:Financial experts warn against scams that target young adults.
notify (v.)
To inform someone officially
Example:HMRC will notify eligible individuals by sending them letters.
physical mail (n.)
Traditional letters sent through the postal service
Example:HMRC will only contact people via physical mail, not email.
unclaimed (adj.)
Not taken or claimed by the rightful owner
Example:The government has a large amount of unclaimed money in these accounts.