The UK government has stepped up efforts to promote its Help to Save scheme to working people receiving universal credit, saying eligible households should sign up to take advantage of a cash bonus on their savings.
Help to Save is a government‑backed savings account that pays a bonus of 50p for every £1 saved by a qualifying account holder over a four‑year period. The account is aimed at people in work who are claiming universal credit and is intended to provide an incentive to build short‑term savings.
The renewed push follows claims that millions of people who are eligible for the scheme have not taken it up. The government says it wants to increase awareness and participation among low‑paid workers who could benefit from the additional payments.
Ministers present the scheme as part of wider efforts to support financial resilience for low‑income households. No changes to the bonus rate or the length of the scheme have been announced; the campaign is focused on encouraging eligible claimants to register and start saving.