A government-backed savings scheme available to Universal Credit claimants is set to expand, bringing an estimated 1.5 million more households within its eligibility rules. The Help to Save programme allows qualifying savers to receive government bonuses worth up to £1,200 over four years.
The change will remove the current requirement for Universal Credit claimants to have earned at least £1 during their previous monthly assessment period. Access to the scheme is also due to change, with banks, building societies and credit unions eventually able to offer Help to Save accounts directly to eligible customers.
How the Help to Save Scheme Works
Help to Save is designed for people receiving Universal Credit who meet the programme’s existing employment and residency requirements. Under the current rules, applicants must have received at least £1 in take-home pay during their latest monthly Universal Credit assessment period.
According to the BBC’s Money Box programme, savers can deposit up to £50 each month and receive a government bonus equivalent to 50 per cent of the amount they save. The account runs for four years, meaning someone consistently depositing the maximum amount could save £2,400 and receive up to £1,200 in bonuses.
Money Box reporter Dan Whitworth explained that customers do not have to leave all their money untouched for the full four years. Withdrawals are permitted, although taking money out can reduce the eventual bonus because payments are calculated using the highest balance reached in the account.
Bonuses are paid at the end of the second and fourth years, with the account closing after the final payment.
The scheme has already attracted hundreds of thousands of participants. According to Department for Work and Pensions figures published in September 2026, more than 650,000 people across the UK have opened Help to Save accounts since the programme was introduced in 2018. More than £300 million in bonuses has been paid during that period.
The latest government figures also show that more than nine in ten people who have held an account have saved the maximum £50 each month.
Eligibility to Expand From April 2028
The biggest change concerns who will be allowed to open an account. From April 2028, the current earnings condition will be removed, allowing Universal Credit recipients who are not working to become eligible as well.
Whitworth said the Government expects the change to bring another 1.5 million households into the scheme. At present, claimants must have earned at least £1 after deductions such as income tax and National Insurance during their previous assessment period.
Economic Secretary to the Treasury Lucy Rigby said Help to Save offers a 50 per cent government bonus on the amount eligible participants are able to save, adding that the Government wants more people who qualify to use the scheme.
Access will also move towards what the Government describes as a “multi-provider model”. Currently, applicants must open their Help to Save account through the Government website. Under the expanded system, banks, building societies and credit unions will also be able to provide the accounts directly to eligible customers.
The existing residency conditions require applicants to live in the UK, although certain people living overseas can also qualify, including Crown servants, members of the British armed forces and their spouses or civil partners. For couples receiving Universal Credit, each person can open an individual Help to Save account, provided they apply separately and meet the relevant eligibility requirements.
