{"id":126549,"date":"2026-10-07T08:00:00","date_gmt":"2026-10-07T07:00:00","guid":{"rendered":"https:\/\/en.econostrum.info\/uk\/?p=126549"},"modified":"2026-10-07T00:05:42","modified_gmt":"2026-10-06T23:05:42","slug":"universal-credit-shake-up-1-5-million","status":"publish","type":"post","link":"https:\/\/en.econostrum.info\/uk\/universal-credit-shake-up-1-5-million\/","title":{"rendered":"Universal Credit Shake-Up Could Give 1.5 Million More Claimants Access to \u00a31,200 Scheme"},"content":{"rendered":"\n

A government-backed savings scheme available to Universal Credit claimants is set to expand, bringing an estimated 1.5 million more households <\/strong>within its eligibility rules. The Help to Save programme allows qualifying savers to receive government bonuses worth up to \u00a31,200 over four years.<\/p>\n\n\n\n

The change will remove the current requirement for Universal Credit claimants to have earned at least \u00a31 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.<\/p>\n\n\n\n

How the Help to Save Scheme Works<\/strong><\/h2>\n\n\n\n

Help to Save is designed for people receiving Universal Credit who meet the programme’s existing employment <\/a>and residency requirements. Under the current rules, applicants must have received at least \u00a31 in take-home pay<\/strong> during their latest monthly Universal Credit assessment period.<\/p>\n\n\n\n

According to the BBC’s Money Box programme, savers can deposit up to \u00a350 each month and receive a government bonus equivalent to 50 per cent<\/strong> of the amount they save. The account runs for four years, meaning someone consistently depositing the maximum amount could save \u00a32,400 and receive up to \u00a31,200 in bonuses.<\/p>\n\n\n\n

Money Box reporter Dan Whitworth <\/strong>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.<\/p>\n\n\n\n

Bonuses are paid at the end of the second and fourth years, with the account closing after the final payment.<\/p>\n\n\n\n

The scheme has already attracted hundreds of thousands of participants. According to Department for Work and Pensions figures published in September 2026<\/strong>, more than 650,000 people across the UK have opened Help to Save accounts since the programme was introduced in 2018. More than \u00a3300 million in bonuses has been paid during that period.<\/p>\n\n\n\n

The latest government figures also show that more than nine in ten people who have held an account have saved the maximum \u00a350 each month.<\/p>\n\n\n\n

\n

Want to boost your savings? \ud83d\udca1

With Help to Save, for every \u00a31 eligible Universal Credit claimants save, the Government adds 50p. That\u2019s up to \u00a31,200 in bonus payments over four years. \ud83d\udc5b

Check eligibility and apply today via the HMRC app. \ud83d\udcf2 https:\/\/t.co\/bhttORTgy7<\/a> pic.twitter.com\/KTSpA649Dy<\/a><\/p>— HM Revenue & Customs (@HMRCgovuk) February 6, 2026<\/a><\/blockquote>