Millions of people on Universal Credit will be able to boost their savings after the Government revealed that its Help to Save scheme would be extended. The move was announced in documents released following the Chancellor’s Budget yesterday (March 15).
The Help to Save scheme is a savings account designed to help people who receive certain benefits build up their savings. There are bonuses awarded to those who save regularly and limits are achievable.
Originally, the scheme was due to end in September of this year. However, the Government has revealed that it will be extending the initiative to new applicants until April 2025.