Free Money for Young People

May 13, 2026, 12:27
UKFinance
A2

Free Money for Young People

Introduction

Many young people have money in special bank accounts. They do not know about this money.

Main Body

The government gave money to children born between 2002 and 2011. These are called Child Trust Funds. People can take this money when they are 18 years old. More than 750,000 people did not take their money. There is £1.6 billion in these accounts. Each person has about £2,200 on average. Now, the government (HMRC) is sending letters to 21-year-olds. These letters tell them how to get the money. Martin Lewis says be careful. HMRC only sends letters. Do not trust emails or texts.

Conclusion

HMRC is sending letters to help young adults get their missing money.

Learning

💡 Money Words

In this story, we see words for money and how we get it. Let's look at the most useful ones for your daily life:

  • Account → A place in the bank for your money.
  • Average → The middle number (not too high, not too low).
  • Missing → Something you cannot find.

🛠️ Using "Do not"

When you want to tell someone not to do something, use Do not (or Don't).

From the text:

  • Do not trust emails.

Other examples for you:

  • Do not open the door.
  • Do not forget your keys.
  • Do not walk on the grass.

🕰️ Time & People

Notice how we describe groups of people by their age:

Young people →\rightarrow Young adults →\rightarrow 21-year-olds

Vocabulary Learning

many (adj.)
A large number of.
Example:Many people enjoy sunny days.
young (adj.)
Not old; in early life.
Example:The young boy played in the park.
people (n.)
Human beings.
Example:People gather in the square.
have (v.)
To possess.
Example:I have a book.
money (n.)
Currency used for buying.
Example:She saved her money for a trip.
special (adj.)
Different from usual.
Example:It was a special gift.
bank (n.)
Financial institution.
Example:I went to the bank to withdraw cash.
account (n.)
Record of money.
Example:He checked his bank account.
do (v.)
To perform an action.
Example:Do you like coffee?
not (adv.)
Negative particle.
Example:I do not know the answer.
know (v.)
To be aware of.
Example:I know the way to the station.
this (pron.)
Referring to something nearby.
Example:This book is mine.
government (n.)
The governing body.
Example:The government announced new rules.
gave (v.)
Past of give.
Example:He gave her a present.
children (n.)
Young humans.
Example:Children play in the yard.
born (adj.)
Having been brought into life.
Example:She was born in 1990.
between (prep.)
At a point in time or space.
Example:Between 2002 and 2011, many were born.
called (v.)
Named.
Example:He is called John.
trust (v.)
To rely on.
Example:Do not trust strangers.
emails (n.)
Electronic messages.
Example:I received several emails.
texts (n.)
Short messages.
Example:She sent a text.
missing (adj.)
Not present.
Example:The missing keys were found.
adults (n.)
Grown-up people.
Example:Adults should be responsible.
careful (adj.)
Cautious.
Example:Be careful with the knife.
letters (n.)
Written messages.
Example:He wrote a letter.
B2

Notice Regarding Unclaimed Money in Child Trust Fund Accounts

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.
C2

Notification of Substantial Unclaimed Assets within Child Trust Fund Accounts

Introduction

A significant volume of government-funded savings accounts remains unclaimed by eligible citizens who have reached the age of majority.

Main Body

The financial instruments in question, designated as Child Trust Funds (CTFs), were established as tax-exempt savings vehicles for individuals born between September 1, 2002, and January 2, 2011. These accounts, which served as the structural precursors to Junior ISAs, received direct government contributions and became accessible for withdrawal upon the beneficiary's eighteenth birthday. Quantitative analysis indicates a systemic failure in asset retrieval, with over 750,000 accounts remaining dormant. The aggregate value of these unclaimed funds is estimated at a minimum of £1.6 billion, representing a mean value of approximately £2,200 per account. Consequently, a substantial cohort of 21-year-olds is currently deprived of these capital assets. In response to this discrepancy, Her Majesty's Revenue and Customs (HMRC) has commenced a formal notification process. This administrative action involves the issuance of physical correspondence to eligible 21-year-olds to facilitate the identification and reclamation of these funds. Concurrently, financial expert Martin Lewis has cautioned against fraudulent activity, noting that official communication from HMRC is restricted exclusively to postal mail; any solicitation via electronic mail, telephony, or SMS should be regarded as an attempted deception.

Conclusion

HMRC is currently facilitating the recovery of £1.6 billion in dormant savings for eligible young adults via formal written notice.

Learning

The Architecture of Nominalization: From Action to Entity

To bridge the gap from B2 (where students focus on what happened) to C2 (where students focus on how the concept is framed), we must analyze the article's heavy reliance on Nominalization.

Nominalization is the linguistic process of turning verbs or adjectives into nouns. In this text, it is used not merely for formality, but to create a sense of objective, institutional authority.

◈ The 'Static' Shift

Observe the transformation of dynamic actions into static nouns within the text:

  • Dynamic (B2): "The government failed to help people retrieve their assets." →\rightarrow Nominalized (C2): "A systemic failure in asset retrieval."
  • Dynamic (B2): "HMRC is notifying people formally." →\rightarrow Nominalized (C2): "A formal notification process."
  • Dynamic (B2): "They are taking administrative action." →\rightarrow Nominalized (C2): "This administrative action involves..."

◈ Scholarly Breakdown: The C2 Effect

By substituting verbs (actions) with nouns (entities), the writer achieves three sophisticated objectives:

  1. Erasure of Agency: By saying "systemic failure" instead of "The government failed," the text removes a specific culprit, making the statement sound like an impartial sociological observation rather than a critique.
  2. Increased Density: Nominalization allows the writer to pack complex ideas into a single noun phrase. "The identification and reclamation of these funds" functions as a single conceptual block, allowing the sentence to maintain a high academic register.
  3. Conceptual Stability: Nouns feel more permanent than verbs. "Fraudulent activity" sounds like a categorized phenomenon; "people are committing fraud" sounds like a series of events.

◈ Linguistic Precision: Lexical Collocations

Note the high-level pairings used to support these nominalizations:

  • Structural precursors →\rightarrow (Precise technical relationship)
  • Aggregate value →\rightarrow (Mathematical totality)
  • Attempted deception →\rightarrow (Legalistic framing of a 'lie')

C2 Takeaway: To master C2, stop describing actions and start describing phenomena. Move from "The company decided to expand" to "The decision to expand was predicated on..."

Vocabulary Learning

discrepancy (n.)
A lack of compatibility or similarity between two or more facts or statements.
Example:The audit uncovered a discrepancy between the reported expenses and the actual receipts.
commenced (v.)
To begin or start something.
Example:The investigation commenced immediately after the whistleblower's complaint.
administrative (adj.)
Relating to the organization and management of institutions or processes.
Example:The administrative procedures for filing claims are outlined in the handbook.
issuance (n.)
The act of formally giving or distributing something, especially documents or securities.
Example:The issuance of new passports was delayed due to staffing shortages.
correspondence (n.)
Written communication between parties, especially letters or emails.
Example:The company sent a series of correspondence to all affected customers.
facilitate (v.)
To make an action or process easier or more efficient.
Example:The new portal will facilitate the submission of claims.
identification (n.)
The process of determining or confirming the identity of someone or something.
Example:The identification of the rightful owner was delayed by incomplete records.
reclamation (n.)
The act of retrieving or regaining something that was lost or taken.
Example:The reclamation of the dormant funds required extensive verification.
concurrently (adv.)
At the same time; simultaneously.
Example:The audit and the legal review proceeded concurrently to expedite the process.
cautioned (v.)
To warn or advise against potential danger or mistake.
Example:The advisor cautioned investors about the risks of speculative markets.
fraudulent (adj.)
Involving deceit or trickery for personal gain.
Example:The company was sued for fraudulent billing practices.
restricted (adj.)
Limited in scope or access; not open to everyone.
Example:Access to the confidential file was restricted to senior staff only.
exclusive (adj.)
Limited to a particular group; not shared with others.
Example:The exclusive offer was available only to members of the loyalty program.
solicitation (n.)
The act of asking for support, information, or money.
Example:The charity's solicitation campaign raised record donations.
regarded (v.)
Considered or thought of in a particular way.
Example:She was regarded as an expert in her field by her peers.
deception (n.)
The act of misleading or lying to someone.
Example:The scam was based on sophisticated deception of investors.
recovery (n.)
The process of regaining something that was lost or stolen.
Example:The recovery of the lost assets took several months of investigation.
dormant (adj.)
Inactive or not currently in use, but capable of becoming active.
Example:The dormant account was reactivated after the owner provided identification.
systemic (adj.)
Relating to or affecting an entire system.
Example:The systemic failure revealed weaknesses in the oversight mechanisms.
aggregate (n.)
The total amount or sum of many parts.
Example:The aggregate value of the claims exceeded expectations.
capital (n.)
Assets that are used to generate wealth or income.
Example:Investors sought to diversify their capital across multiple sectors.
tax‑exempt (adj.)
Not subject to taxation.
Example:The charity's donations were tax‑exempt, encouraging more contributions.
structural precursors (n.)
Earlier forms or versions that set the foundation for later developments.
Example:The early prototypes served as structural precursors to the final design.
direct contributions (n.)
Funds or resources given straight to a recipient without intermediaries.
Example:The program accepted direct contributions from individual donors.
withdrawal (n.)
The action of taking something out, especially money from an account.
Example:The withdrawal of funds was delayed by security checks.
quantitative analysis (n.)
A method of evaluating data using numerical and statistical techniques.
Example:The team performed a quantitative analysis to assess market trends.
mean value (n.)
The average of a set of numbers.
Example:The mean value of the test scores was 78 out of 100.
substantial cohort (n.)
A large group of individuals sharing a common characteristic.
Example:The study focused on a substantial cohort of 21‑year‑olds.