Tue, 25 Nov 2025

Tue, 25 Nov 2025 Help to Save scheme to be offered to more people

The government gives a 50% bonus after two and four years, to encourage those on low incomes to save.

* The government's Help to Save scheme will be made permanent and expanded to include an extra 1.5 million parents and carers from 2028.
* Currently, around three million people on universal credit are eligible for the scheme, which offers a 50p bonus for every pound saved after two and four years.
* The scheme allows savers to put up to £50 per month into their account, earning them a maximum bonus of £1,200 over four years.
* In addition to the expansion, the Treasury will announce that the scheme's current end date of 2027 has been scrapped.
* Chancellor Rachel Reeves is expected to reduce the amount people can save in cash Isas (Individual Savings Accounts) from £20,000 to £12,000 per year as part of the Budget.
* This move has been criticized by experts, who argue that it will add complexity and may deter people from saving.
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