Help to Save Reform
- From:
- HM Treasury
- Published
- 27 April 2023
- Last updated
-
3023OctoberJune20242026 — See all updates
Read the full outcome
Help to Save Reform Delivery Consultation Response 23 June 2026
PDF, 309 KB, 17 pages
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Help to Save Consultation Response and Delivery Consultation
Ref: ISBN 978-1-916693-74-6
PDF, 302 KB, 32 pages
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Detail of outcome
Updated 23 June 2026
The government has confirmed that the reformed Help to Save scheme will be delivered through a multi‑provider model. This will allow banks, building societies and credit unions to offer Help to Save accounts directly to eligible customers, improving access to the scheme.
This publication sets out the government’s response to the Help to Save delivery consultation, summarising stakeholder views on how the scheme should be delivered.
In April 2023, the previous government consulted on reforming and simplifying the Help to Save scheme. Views were sought from stakeholders on the effectiveness of Help to Save as a key savings product for low-income working people, encouraging uptake within the target group, and providing the best value for taxpayers.
Feedback from the consultation and additional stakeholder engagement has been carefully considered and the government has developed a framework for a reformed scheme design.
This publication contains a consultation which will inform the final approach to delivering the reformed scheme. The consultation invites views from financial institutions, including banks, building societies and credit unions, to understand interest in delivering the reformed Help to Save scheme.
Original consultation
Summary
HM Treasury is seeking views on how the Help to Save scheme can be reformed and simplified.
This consultation ran from
to
Consultation description
The Help to Save scheme offers working people on low incomes in receipt of certain benefits 4-year savings accounts with a 50% government bonus where they can save a maximum of £50 a month. At Spring Budget the government announced that the Help to Save scheme (originally due to close to new accounts in September 2023) will be extended by 18-months, on its current terms, until April 2025 and that it would consult on reforms to the scheme. This consultation paper will be seeking views from stakeholders on how the scheme could be reformed and simplified to ensure it: has longevity as a key savings product for working people on low incomes; encourages take-up in the target group; and provides the best value for taxpayers.
Documents
Help to Save Reform consultation
Ref: ISBN 978-1-915596-92-5
PDF, 146 KB, 16 pages
This file may not be suitable for users of assistive technology.
Request an accessible format.
If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.
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Updates to this page
Published 27 April 2023
Last updated 3023 OctoberJune 2024
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Update history
2026-06-23 14:17
Help to Save Reform: Delivery Consultation – Summary of Responses added.
2024-10-30 13:52
Updated with consultation outcome.
2023-04-27 13:42
First published.
Detail of outcome
Updated 23 June 2026
The government has confirmed that the reformed Help to Save scheme will be delivered through a multi‑provider model. This will allow banks, building societies and credit unions to offer Help to Save accounts directly to eligible customers, improving access to the scheme.
This publication sets out the government’s response to the Help to Save delivery consultation, summarising stakeholder views on how the scheme should be delivered.
In April 2023, the previous government consulted on reforming and simplifying the Help to Save scheme. Views were sought from stakeholders on the effectiveness of Help to Save as a key savings product for low-income working people, encouraging uptake within the target group, and providing the best value for taxpayers.
Feedback from the consultation and additional stakeholder engagement has been carefully considered and the government has developed a framework for a reformed scheme design.
This publication contains a consultation which will inform the final approach to delivering the reformed scheme. The consultation invites views from financial institutions, including banks, building societies and credit unions, to understand interest in delivering the reformed Help to Save scheme.
Original consultation
Original consultation
Summary
HM Treasury is seeking views on how the Help to Save scheme can be reformed and simplified.
This consultation ran from
to
Summary
HM Treasury is seeking views on how the Help to Save scheme can be reformed and simplified.
This consultation ran from
to
Consultation description
The Help to Save scheme offers working people on low incomes in receipt of certain benefits 4-year savings accounts with a 50% government bonus where they can save a maximum of £50 a month. At Spring Budget the government announced that the Help to Save scheme (originally due to close to new accounts in September 2023) will be extended by 18-months, on its current terms, until April 2025 and that it would consult on reforms to the scheme. This consultation paper will be seeking views from stakeholders on how the scheme could be reformed and simplified to ensure it: has longevity as a key savings product for working people on low incomes; encourages take-up in the target group; and provides the best value for taxpayers.
Documents
Help to Save Reform consultation
Ref: ISBN 978-1-915596-92-5
PDF, 146 KB, 16 pages
This file may not be suitable for users of assistive technology.
Request an accessible format.
If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.
Consultation description
The Help to Save scheme offers working people on low incomes in receipt of certain benefits 4-year savings accounts with a 50% government bonus where they can save a maximum of £50 a month. At Spring Budget the government announced that the Help to Save scheme (originally due to close to new accounts in September 2023) will be extended by 18-months, on its current terms, until April 2025 and that it would consult on reforms to the scheme. This consultation paper will be seeking views from stakeholders on how the scheme could be reformed and simplified to ensure it: has longevity as a key savings product for working people on low incomes; encourages take-up in the target group; and provides the best value for taxpayers.
Documents
Help to Save Reform consultation
Ref: ISBN 978-1-915596-92-5
PDF, 146 KB, 16 pages
This file may not be suitable for users of assistive technology.
Request an accessible format.
Share this page
The following links open in a new tab
Updates to this page
Sign up for emails or print this page
Update history
2026-06-23 14:17
Help to Save Reform: Delivery Consultation – Summary of Responses added.
2024-10-30 13:52
Updated with consultation outcome.
2023-04-27 13:42
First published.