Overview
- A DWP rule change earlier this year made around three million working Universal Credit claimants newly eligible for Help to Save.
- There are 8.3 million people on Universal Credit, highlighting the scale of potential take-up still available.
- By the end of April 2025, about 575,200 Help to Save accounts had been opened, including 7,800 opened in April alone.
- Savers can deposit £1 to £50 per month and earn a 50% bonus paid at the end of years two and four, worth up to £1,200 on £2,400 saved over four years.
- Accounts can be opened on GOV.UK or via the HMRC app without an upfront deposit, and withdrawals are permitted but may reduce bonus entitlements.