economy United Kingdom
UK government promotes Help to Save savings scheme
0.5GBP bonus per GBP saved
Help to Save offers a bonus of 50 pence for every £1 saved over four years.
The UK government is encouraging eligible low earners receiving universal credit to open Help to Save accounts. The scheme offers a government bonus based on savings, but StepChange said take-up remains too low.
1 sourceThe GuardianUpdated
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The UK government is encouraging eligible low earners to sign up for Help to Save.
“the UK government is encouraging low earners to sign up to a savings scheme”
- 0.5GBP bonus per GBP saved
Help to Save offers a bonus of 50 pence for every £1 saved over four years.
“offers free cash ... 50p for every £1 they save over four years”
- 50GBP per month
The maximum monthly contribution to a Help to Save account is £50.
“You can save up to a maximum of £50 each month”