The government has announced its plans to provide a cash boost to Universal Credit claimants by extending a vital scheme.
As part of the Spring Budget, the government will extend the Help to Save scheme for 18 months, making it available for new claimants until April 2025. The scheme will be extended on its original terms, which means workers on low income can receive a 50 per cent bonus on everything they save - equating to 50p for every £1 saved for a maximum bonus of £1,200 on savings up to £2,400 over four years.
The scheme is available to benefit claimants receiving Universal Credit or tax credits with a minimum earned income equivalent to 16 hours a week at the National Living Wage during their last monthly assessment period.
