Hundreds of thousands of people on Universal Credit have received extra cash
Almost half a million people who are on a low income have received bonus payments of up to £1,200 through the Help to Save scheme, according to fresh data from HM Revenue and Customs (HMRC). The Department for Work and Pensions (DWP) has revealed that there are currently 8.3 million people claiming Universal Credit.
However, many working claimants may not realise they could be eligible for the Help to Save scheme, which can enhance their savings and help build financial resilience for the future. Thanks to a rule change earlier this year, around three million working Universal Credit claimants are now eligible for the Help to Save scheme, which has been extended until April 2027.
By the end of April this year, approximately 575,200 had opened a Help to Save account and HMRC is urging more eligible households not to miss out. A total of 7,800 accounts were opened in April 2025 alone.
Some 94 per cent of scheme users have deposited the maximum £50 every month into their Help to Save account, reports the Daily Record. An account can be set up in just a few minutes – you don’t have to deposit any money straight away – and easily managed through GOV.UK or the HMRC app, making it accessible to people throughout the UK.
Those who put away the full £2,400 over the four-year period (£50 monthly) will pocket a total bonus of £1,200, paid at the end of years two and four. Help to Save is a Government-backed savings initiative designed for lower earners, delivering a 50 per cent bonus on deposits.
Participants can save anything from £1 to £50 monthly and earn an additional 50p for every pound they put aside. Lucy Rigby, Economic Secretary to the Treasury, said: “The Government’s Help to Save scheme has boosted the savings of over half a million people across the country to the tune of £220 million.
“We’re committed to helping families build financial resilience and putting more money in the pockets of working people.”
Myrtle Lloyd, HMRC’s Chief Customer Officer added: “Millions have been paid out to people who are putting aside whatever cash they can spare each month – so don’t miss out on making the most of your savings. Go to GOV.UK to open your Help to Save account today.”
One in five account holders have registered for Help to Save through the HMRC mobile application. The app enables users to monitor their contributions and check their bonus entitlements.
Money can be transferred into Help to Save accounts through debit card payments, standing orders or direct bank transfers. Funds can be accessed at any time, though doing so may impact the 50 per cent bonus payments. Further details about Help to Save are available at GOV.UK.
