The UK government is encouraging low-income earners on universal credit to sign up for "Help to Save", a matched savings scheme that provides a 50p bonus for every £1 saved over four years. The promotion comes as debt charities warn that millions of eligible people are missing out on this opportunity to build a financial safety net.

Under the scheme, savers can contribute up to £50 monthly, receiving bonuses at the end of years two and four; the maximum possible bonus is £1,200 if £2,400 is saved over the full period. Since its launch in September 2018, 656,700 accounts have been opened with £676m deposited, though take-up remains low. The scheme currently targets working people on universal credit but will expand to parents and carers on UC from 2028.