Martin Lewis urges anyone on Universal Credit to get 50% savings boost

Money-saving expert Martin Lewis is urging millions of people receiving Universal Credit to take advantage of a little-known government scheme that offers an unbeatable 50% bonus on savings. The Help to Save scheme, available via Gov.uk, allows eligible claimants to earn up to £1,200 in government bonuses over four years.

The scheme is designed for people on low incomes who are in work and receiving Universal Credit. Users can save up to £50 a month, and after two years, they receive a tax-free bonus of 50% on the highest balance they held during that time - even if they've withdrawn money along the way. A second bonus is available after another two years, potentially bringing the total government top-up to £1,200.

Lewis, who regularly highlights the scheme on his ITV show and MoneySavingExpert website, calls it "an unbeatable offer" for anyone who qualifies.

"There's nowt else close to it," he said, praising the initiative for giving working households on benefits a way to build a financial cushion.

One saver, Claire, told Lewis: "Have saved for the last 4 years. Am about to cash out my last £2,400 plus my second £600 bonus, so £3,600 in total.

"It's been tight some months, but I have always pulled the cash together to get the max back. Thanks for the tip all of those years ago!"

To qualify, individuals must be UK residents receiving Universal Credit and have earned at least £1 in their most recent monthly assessment period. The threshold was recently lowered from £793 per month to just £1, making the scheme more accessible than ever.

Accounts are individual and must be opened online through Gov.uk or via the HMRC app. Once opened, you can continue saving and earning bonuses even if your benefits stop.

The scheme is open until at least April 2027, and Lewis is encouraging all eligible households to act now to secure a valuable boost to their financial security.