Low paid workers set to receive savings bonus of £1,200
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Low paid workers set to receive savings bonus of £1,200

Low paid workers are set to be rewarded with a bonus of up to £1,200 when they save £50 a month in a new help to save scheme announced by the Government today.

This sounds like an amazing idea and I know this new Government scheme will be extremely helpful to so many of you so here are the details.

Basically how it will work is when you save up to £50 a month, you will receive a bonus of 50%, a maximum of £600 after two years.

Savers can then choose to use the scheme for a further two years and earn up to another £600.

People will be able to access these savings at any point with no restrictions on how they are to be used.

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The scheme will be rolled out within the next two years and will be available to workers on Universal Credit or Working Tax Credits.

David Cameron has said: I’ve made it the mission of this government to transform life chances across the country.

That means giving hard-working people the extra support they need to fulfil their potential.

And that’s what these new measures will achieve – helping someone start a savings fund to get them through difficult times, giving people on low incomes a pay rise and making sure teenagers have the experience and networks to succeed.

CLICK HERE to read more on this story.

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