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Universal Credit claimants could be missing out on £1.2k bonus from Help to Save

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Universal Credit? If so, you could be missing out on a mega bonus. The Help to Save scheme gives you extra money on top of your own savings worth up to £1,200.

So for each £1 you set aside into a special account, the government will you give you 50p on top. And if you save the maximum amount each year, you could earn a bonus of £1,200 over the four years.

To get the maximum bonus you will need to save £2,400 over the same time, which is £50 per month. Just over a quarter of a million people have opened up a Help to Save account since it launched back in September 2018.

According to the latest figures from the government, 284,050 of the accounts are open with 20,000 more than the start of the year.

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