London, November 28, 2025
The UK government has announced that the Help to Save scheme will become a permanent program and will be expanded in April 2028 to include approximately 1.5 million additional people, notably parents and carers on Universal Credit currently unable to work due to caregiving responsibilities. The initiative aims to enhance financial security and savings opportunities for low-income households.
Help to Save Scheme Details
The Help to Save scheme allows eligible individuals to save a minimum of £1 and a maximum of £50 per month for up to four years. Participants receive a government bonus of 50% on their savings, paid in two installments: one after two years and another after four years. The maximum bonus attainable is £1,200 on savings of £2,400. Account holders are not required to save every month and can withdraw funds at any time while retaining the accrued bonus based on their highest account balance.
Currently, individuals claiming Universal Credit with at least £1 of take-home pay in their latest assessment period qualify for the scheme. Couples on Universal Credit are eligible to open individual Help to Save accounts, potentially doubling their savings and bonuses.
Expansion to Include More Vulnerable Claimants
Starting April 2028, the scheme will be expanded to permit parents and carers receiving Universal Credit who cannot work due to their caring responsibilities to join. This extension is expected to bring roughly 1.5 million additional participants into the program.
This expansion reflects the government’s commitment to supporting a broader segment of the low-income population, particularly individuals with caregiving duties who had previously been excluded. Making the scheme permanent removes previous time limitations, allowing continuous access to the benefits indefinitely.
Background and Government Rationale
Initially scheduled to end in 2027, the Help to Save scheme’s permanency and expansion were unveiled in the Autumn Budget 2025. The program was established to encourage savings among low-income households by providing a considerable government bonus, thus fostering financial resilience and emergency funds.
By addressing the savings needs of vulnerable groups including carers and parents unable to work, the government intends to mitigate some of the financial pressures facing these demographics, providing them with a flexible, government-supported mechanism to build financial security.
The scheme’s extension and permanency signal a strategic move to increase financial inclusion within the Universal Credit claimant population, recognizing the diversity of circumstances that affect their earning and saving capacities.
This development will likely have significant implications for financial planning and social policy frameworks aimed at reducing poverty and enhancing economic stability among low-income families in the UK.