Research and analysis

Research report: Evaluation of Help to Save – Qualitative interviews with Users and eligible Non-users of Help to Save

Published 3 November 2025

Prepared by Ipsos for HM Revenue and Customs

Andrew Shaw and Chloe Snook (Ipsos)

Research report number: 847

April 2024

The views in this report are the author’s own and do not necessarily reflect those of HM Revenue and Customs

This report was approved under the Conservative administration (2010 to 2024), and conducted from January 2024 to July 2025

Glossary

Term	Definition
Active users	In the context of this evaluation research, ‘active users’ describes individuals with a Help to Save account, in which they had made at least one deposit, at the time of interview.
Appropriateness	In the context of this evaluation research, appropriateness refers to whether different formats of Help to Save could achieve the same or different outcomes.
Help to Save	Help to Save is a type of savings account. To be eligible for the account, the individual must be either: receiving Working Tax Credit, entitled to Working Tax Credit and receiving Child tax Credit, or claiming Universal Credit with a take-home pay of £793.17 or more in the last monthly assessment period. The account allows eligible individuals to receive a bonus from the government of 50p for every £1 they save over 4 years. The bonus is paid every 2 years. These were the conditions at the time of this research and are based on the take-home figure of £722.45, which fluctuates in line with inflation and the living wage.
Inactive users	Help to Save is a type of savings account. To be eligible for the account, the individual must be either: receiving Working Tax Credit, entitled to Working Tax Credit and receiving Child tax Credit, or claiming Universal Credit with a take-home pay of £793.17 or more in the last monthly assessment period. The account allows eligible individuals to receive a bonus from the government of 50p for every £1 they save over 4 years. The bonus is paid every 2 years. These were the conditions at the time of this research and are based on the take-home figure of £722.45, which fluctuates in line with inflation and the living wage.
Individuals Savings Account (ISA)	An Individuals Savings Account (ISA) is a type of tax-free savings account. Individuals can save or invest a certain amount of money each year without having to pay income tax or capital gains tax on the interest, dividends or gains they earn. There are different types of ISAs such as cash ISAs and stocks and shares ISAs.
Lifetime Individuals Savings Account (LISA)	A Lifetime Individuals Savings Account (LISA) is a type of Individual Savings Account launched in April 2017 to help people aged 18 to 40 save for their first home or later life.
Proportionality	In the context of this evaluation research, proportionality refers to whether the appropriate level of resources are invested to achieve the desired outcome. For example, whether different levels of generosity via Help to Save could achieve the same or different outcomes.
Tax Credits (including Child Tax credit and working Tax Credit)	Tax Credits are means-tested government payments which are split into Working Tax Credits (WTC) and Child Tax Credits (CTC). Individuals can claim one or both depending on their household circumstances. The purpose of Tax Credits is to help low-income households top up their income to help with day to day living.
Universal Credit	Universal Credit is a state benefit to help eligible individuals with living costs. It is means-tested and replaces and combines 6 legacy benefits and tax credits for working-age households with a low income. These include income-related Employment and Support Allowance (ESA), income-based Jobseeker’s Allowance (JSA), and Income Support; Child Tax Credit and Working Tax Credit; and Housing Benefit.

1. Executive summary

1.1 Introduction

HM Revenue and Customs (HMRC) commissioned Ipsos to evaluate the impact of Help to Save, using qualitative and quantitative methods. This report outlines the qualitative findings. The quantitative findings can be found on GOV.UK. HMRC also publishes Help to Save statistics on GOV.UK

This research builds on previous research commissioned by HMRC in which Ipsos UK explored the  awareness, attitudes and behaviours INSERT QUANT)

1.2 Policy Background

Help to Save is a type of savings account, first launched in September 2018. It aims to incentivise working people with low incomes to support them to save and encourage a lifelong savings habit. It allows eligible individuals to save up to £50 per month for up to 4 years, receiving a bonus of 50p for every £1 saved over 4 years (up to a maximum of £600 bonus every 2 years). To open a Help to Save account, an individual must be receiving Working Tax Credit, entitled to Working Tax Credit and receiving Child Tax credit, or claiming Universal Credit and had take-home pay of £793.17 or more in their last monthly assessment period. The take-home pay was £722.45 at the time of this research and this figure might have been different for some participants at the time when they opened their account as the amount changes in line with inflation and the living wage.

An individual can earn 2 tax-free bonuses over 4 years. The first bonus is based on the highest balance achieved during the first 2 years. The second bonus payment is based upon the difference between the highest balance saved in the first 2 years and the highest balance saved in the last 2 years. An individual’s Help to Save account will close 4 years after they open it. They will not be able to reopen it or open another Help to Save account.

There has been previous research on the customer experience of Help to Save, which can be found on Help to Save customer experience.

1.3 Evaluation objectives

The overarching objective of the evaluation was to help HMRC understand the impact of Help to Save on users and, in particular, whether the scheme has encouraged users to save (more) after using it. The evaluation questions were:

1. Has Help to Save encouraged new saving behaviours during the life of the account?

2. Has Help to Save instilled long-term saving behaviours amongst users?

3. Has Help to Save prompted greater financial resilience amongst users?

4. Why have some of those eligible for a Help to Save account not opened one?

1.4 Methodology

This qualitative strand of the evaluation consisted of 50 in-depth interviews, conducted between September and November 2023 using Microsoft Teams or telephone. 26 users and 24 eligible non-users of Help to Save were interviewed, including a mix of Universal Credit and Tax Credits claimants. Help to Save users included a mix of:

• active users who held a Help to Save account and had made at least one deposit at the time of interview

• previous users who held a Help to Save account, which had since matured at the time of interview, and all had made at least one deposit

• inactive users who held a Help to Save account and had not made a deposit at the time of interview

To maximise the value of the qualitative strand of the evaluation, all non-users were aware of Help to Save before the interview. They were also screened to ensure they had the capacity to, and were open to the prospect of, saving any money at the time of the interview. This enabled Ipsos to maximise the opportunity of gathering rich insights on the impact of Help to Save specifically, as opposed to other factors, on saving behaviour.

Due to the qualitative method, findings are reflective of the people that took part in the interviews and therefore provide an indication of a range of views and experiences. They do not intend to be representative of, nor should they be used to draw statistical conclusions about, the wider population.

1.5 Key findings

Help to Save encouraged new saving behaviours during the life of the account for some users

Many users spoke of having little to no savings experience prior to opening a Help to Save account, as well as having ingrained assumptions around a perceived lack of affordability and inability to save.

In this qualitative strand of the evaluation, active and previous users reported that Help to Save had encouraged new savings behaviours during the life of the account. These users were able to describe a range of positive actions that had been taken as a direct result of opening a Help to Save account. These included:

• setting up a standing order to make regular and consistent deposits into their Help to Save account 

• allocating a proportion of income each month as ‘reserved’ for saving

• placing any additional, surplus funds that became available into their Help to Save account

• purposefully changing behaviours or spending patterns to reduce outgoings and maximise savings capabilities (for example, looking to monitor and reduce utility costs or proactively shopping around for the most competitive rate)

• reducing spending on ‘short term pleasures’ in order to maximise bonus entitlement and to save towards longer term goals (for example, cutting back on or limiting the amount of money spent on leisure activities)

Users reported that these behaviours were motivated by 2 features of the Help to Save account:

• the size of the bonus available (which was considered generous)

• the delayed bonus structure (which encouraged the development of regular and consistent savings behaviours over an extended period of time)

Inactive users reported that external factors, such as unexpected changes in personal circumstances, or concerns around affordability amidst rising living costs, had made it challenging for them to save in their Help to Save account.

Help to Save has helped to instil long-term saving behaviours amongst some users

In addition to developing new savings behaviours, this qualitative strand of the evaluation suggests that Help to Save has motivated some users to maintain these behaviours in the mid to long term, following closure of the account.

Some previous users reported that they continued to save after the closure of their account, in the format they did during the life of their Help to Save account, such as using a standing order to deposit £50 a month into a savings account. Active users mostly reported that they hoped to continue to save this same amount after their Help to Save account closed. However, as discussed further in chapter 5, some felt that they might be less motivated to do so, once they do not receive a 50p bonus for every pound saved.

Similar to inactive users, some previous users had not continued to save after the closure of their account, despite wanting to maintain this behaviour. They attributed this to unexpected changes in personal circumstances or concerns around affordability amidst rising living costs, not because of any negative experiences with Help to Save.

Help to Save has prompted a greater sense of financial resilience amongst some users

For both active and previous users of Help to Save, this qualitative strand of the evaluation found that Help to Save has helped users to feel more financially resilient. For example, some active and previous users reported that they had spent the savings from their account to cover unexpected costs that they would not have previously been able to cover.

Whilst some active and previous users had not needed to spend their savings, they nonetheless considered that Help to Save had allowed them to build up a ‘rainy day fund’ – a valued source to be called on in times of future financial need.

Lack of understanding about how the account works and eligibility were some of the barriers to take-up reported by non-users

This qualitative strand of the evaluation uncovered some of the reasons why non-users had not opened a Help to Save account, despite being eligible and having the capacity to save. Non-users reported a general lack of knowledge about Help to Save, and poor understanding about how the account works, who is eligible for Help to Save, and the potential impact on their entitlement to Universal Credit or Tax Credits.

Following the provision of more detailed and accurate information on Help to Save during the course of the interviews, some non-users reported that they intended to open an account. This indicates that increased visibility and transparency around Help to Save could help to increase consideration and take-up among the eligible non-user population.

Proportionality and appropriateness of Help to Save to support people to save and encourage a savings habit

This qualitative strand of the evaluation explored the proportionality and appropriateness of Help to Save to understand the potential impact of changes to the generosity (proportionality) or format (appropriateness) of Help to Save on savings behaviours. In the interviews with both users and non-users, hypothetical scenarios relating to the size of the bonus, bonus frequency, calculation of the bonus, and the way an account is opened were considered.

Hypothetical scenarios relating to the size of the bonus

Users and non-users reported that they would still open and use a Help to Save account if the maximum bonus was reduced from £600 to £300: in comparison to the incentives and rates of interest available elsewhere, the offer would still be appealing. However, some active and previous users who said that the experience of receiving their first bonus had motivated them to save towards their second bonus reported that a reduced bonus may not have been impactful in the same way.

Users and non-users said that increasing the bonus from £600 to a maximum of £900 would make Help to Save even more appealing. For some, a higher bonus may make saving into their Help to Save account an even higher priority, and that they would make spending sacrifices elsewhere to ensure they made the maximum monthly contributions.

Hypothetical scenarios relating to bonus frequency

The interviews explored the potential impact of the bonus being paid every 6 months, instead of every 2 years. Whilst some users reported that they expected this to have little to no difference on their saving behaviours, others were concerned that it would encourage them to spend bonus payments more readily. However, some non-users said that they would find the prospect of more frequent bonuses more appealing, as they could be more likely to achieve smaller or shorter-term saving goals.

When the prospect of the bonus being paid once a year was considered, instead of every 2 years, responses were very similar to those of a 6-monthly bonus. In particular, some non-users and inactive users were supportive of this frequency, as they felt this would make their savings and bonuses more accessible if they needed the money in the case of an emergency.

The prospect of the bonus being paid once at the end of the 4 years, instead of every 2 years, was also considered. Whilst some previous and active users said that they would be unaffected by this bonus structure as their intention was to save the maximum amount, none of the users or non-users interviewed preferred a single bonus at the end of 4 years. Some reported that such a bonus structure would discourage them from opening an account.

Hypothetical scenario relating to the calculation of the bonus

The interviews explored the potential impact of the bonus being calculated on the final balance (total amount of money put into the Help to Save account, minus the amount withdrawn), rather than being calculated on the difference between the highest balance in years 1 to 2 and the highest balance in years 3 to 4, as it is currently. It is important to note that some users and non-users found the calculation of the bonus difficult to understand (both how the scheme works currently and the hypothetical scenario).

Amongst users and non-users who did understand, they considered the current calculation of the bonus to be fair. Users who had withdrawn from their account, and users and non-users who thought they might need to make withdrawals in the future, had concerns that calculating the bonus based on the final balance could punish those with poorer financial security. However, users and non-users acknowledged that calculating the bonus on the final balance was easier to understand than the current approach.

Hypothetical scenario relating to the way an account is opened

The interviews explored the potential impact of HMRC automatically opening a Help to Save account for eligible individuals (instead of users opening an account themselves). Users and non-users had mixed responses to this. Some viewed this scenario negatively and felt it would be a violation of their privacy. However, others said they would prefer to have an account opened on their behalf, since it would reduce the administrative burden of opening an account. Some non-users also recognised that this could overcome current barriers around lack of awareness and, in turn, make them more likely to use a Help to Save account.

2. Background and methodology

2.1 Policy background

HM Revenue and Customs (HMRC) commissioned Ipsos to evaluate the impact of Help to Save, using qualitative and quantitative approaches. This report outlines the qualitative findings. The quantitative findings can be found on GOV.UK. HMRC also publishes Help to Save statistics on GOV.UK.

Help to Save is a type of savings account, first launched in September 2018. It aims to incentivise working people with low incomes to support them to save and encourage a lifelong savings habit. It allows eligible individuals to save up to £50 per month for up to 4 years, receiving a bonus of 50p for every £1 saved over 4 years (up to a maximum of £600 bonus every 2 years). To open a Help to Save account, an individual must be receiving Working Tax Credit, entitled to Working Tax Credit and receiving Child Tax credit, or claiming Universal Credit with take-home pay of £722.45 or more in their last monthly assessment period. An assessment period occurs each calendar month and is used to calculate how much a person is entitled to receive in benefits, based on their personal circumstances during that period.

An individual can earn 2 tax-free bonuses over 4 years. The first bonus is based on the highest balance achieved during the first 2 years. The second bonus payment is based upon the difference between the highest balance saved in the first 2 years and the highest balance saved in the last 2 years. An individual’s Help to Save account will close 4 years after they open it. They will not be able to reopen it or open another Help to Save account.

There has been previous research on the customer experience of Help to Save, which can be found on Help to Save customer experience.

2.2 Evaluation Questions

The overarching objective of the evaluation was to help HMRC understand the impact of Help to Save on users and, in particular, whether the scheme has encouraged users to save (more) after using it. The evaluation questions were:

1. Has Help to Save encouraged new saving behaviours during the life of the account?

2. Has Help to Save instilled long-term saving behaviours amongst users?

3. Has Help to Save prompted greater financial resilience amongst users?

4. Why have some of those eligible for a Help to Save account not opened one?

2.3 Methodology and sampling

This report is based on completion and analysis of 50 qualitative depth interviews as outlined below:

Users of Help to Save

Subgroup	Completed
Active users	10
Previous users	11
Inactive Users	5

Eligible non-Users of Help to Save

Subgroup	Completed
Non-users (Universal Credit)	22
Non-users (Tax Credits)	2

A purposive sampling approach was adopted to analyse the experiences of a range of users and non-users. The sample included the following sub-groups:

• active users held a Help to Save account and had made at least one deposit at the time of interview

• previous users had held a Help to Save account, which had since matured at the time of interview, and all had made at least one deposit

• inactive users held a Help to Save account and had not made a deposit at the time of interview

• eligible non-users included a mix of Universal Credit and Tax Credit claimants who had heard of the Help to Save account, and said they were able to save to some extent but had not opened an account at the time of the interview

All interviewees were screened to ensure they had the capacity to, and were open to the prospect of, saving money (options 1 or 2 in the screener question below). Potential interviewees without the capacity to save, who answered option 3, were screened out of the research.

Screener question: Based on your normal monthly income and spending, which of the following statements would you say best describes how able you are to save money?

1. I typically have money left over at the end of the month and/or could easily be able to put money into a savings account if I wanted to.

2. I sometimes have money available that I could be able to put into a savings account if I wanted to.

3. I rarely or never have money available that I would be able to put into a savings account.

Interviews were conducted using Microsoft Teams or by telephone and lasted up to 60 minutes. Fieldwork was conducted between September and November 2023. 

Recruitment challenges

Recruitment of eligible non-users receiving Tax Credits was challenging. The reasons for this are unclear as individuals are not required to give a reason for not wanting to take part. However, Tax Credit claimants who were willing to take part were often screened out of the research due to a lack of awareness of the scheme. The population receiving Tax Credits is smaller than that receiving Universal Credit, and decreasing in accordance with the migration to Universal Credit, which likely compounded this recruitment issue. As of April 2023, there were around 1.1 million families claiming Tax Credits (1.7% of the UK population) compared with around 5.7 million families on Universal Credit as of July 2022 (7.4% of the UK population). These are HMRC statistics on tax credits which can be found on Universal Credit and Child Tax Credit claimants: statistics related to the policy to provide support for a maximum of 2 children, April 2024.

HMRC and Ipsos agreed a pragmatic solution, increasing the number of interviews with eligible non-users claiming Universal Credit. Subgroup analysis between non-users by type of financial support has not been conducted due to the limited number of non-users claiming Tax Credits.

2.4 How to read this report

The remainder of this report is split into sections to cover the range of evidence collected to answer the evaluation questions.

Due to the qualitative method, findings are reflective of the people that took part in the research and provide an indication of a range of views and experiences. They do not intend to be representative of the wider population. Interviewees’ saving behaviours varied across users and non-users. Statistical conclusions cannot be drawn on the impact of the Help to Save scheme based on these findings.

This report includes findings from subgroup analysis that was carried out as part of this research. Where differences between subgroups were identified during the analysis, such as between active and previous users, these have been included in the report.

Eligible non-users are referred to throughout the report as ‘non-users’ for brevity. Help to Save is referred to both a savings ‘account’ and ‘scheme’ in this report.

Where quotations are used throughout the report, the interviewee’s subgroup has been included as an attribution to help the reader interpret the data, for example if they were a previous, active or inactive user, or non-user.

3. Awareness and appeal of the Help to Save Scheme

Chapter summary

This chapter explores levels of knowledge and awareness of Help to Save, as well as the impact of awareness on initial impressions, consideration, and appeal of the Help to Save proposition.

Key findings included in this chapter are:

1. Users and non-users became aware of Help to Save through a range of channels, with those who became aware of the scheme via familiar channels or trusted sources reporting that this helped to build confidence in the offer and to provide reassurances around the legitimacy of the scheme.

2. The offer of a 50% bonus was highly motivating and prompted immediate take-up of the offer among some. Others felt further research was required to verify the legitimacy of the scheme after initial impressions were that it seemed ‘too good to be true’.

3. Participants had misperceptions about who was eligible for Help to Save.

3.1 Awareness of Help to Save among users

Users of Help to Save reported they first became aware of the scheme through a range of channels.

Some had learnt of the scheme via Martin Lewis, a financial journalist and broadcaster, and first became aware of Help to Save through his consumer finance and discussion website (Money Saving Expert), weekly newsletter, or on his segment on the ‘Good Morning Britain’ TV show.

Others had become aware of the scheme incidentally when engaging with the HMRC website, app or phoneline to complete other tasks, for example when contacting to update personal details or report a change in circumstances.

“I called the tax credit helpline to let them know about my change. While waiting on hold on the phone, I heard a message about Help to Save, which I then Googled and read about while being on hold.” (Previous user)

Some had learnt of the scheme via word of mouth and recommendations from friends, family members and colleagues who had used the scheme themselves. Similarly, some users told us that they had also gone on to strongly encourage their friends and family to sign up. They described using their own positive experiences of the scheme to prompt consideration and take-up of the scheme among others.

Others became aware of the scheme through adverts on social media channels, such as Facebook.

3.2 Impressions and considerations of the Help to Save proposition among users

Users who first saw Help to Save advertised by HMRC, or became aware of the scheme via other familiar channels or trusted sources, reported that this helped to build confidence in the offer and to provide reassurances around the legitimacy of the scheme.

”As soon as I saw it on there [Martin Lewis weekly newsletter], I was like, ‘Oh it’s Martin, he’s obviously done his due diligence, he’s figured out it’s alright and he’s recommended the opportunity.” (Active user)

”I remember Martin Lewis saying that it was a no brainer… They are giving money away, it’s free money. That was the real appeal.” (Previous user)

Among such users, initial impressions of the scheme were positive, particularly the prospect of a 50% bonus which prompted immediate take-up of the offer with few or no actions taken to seek further information or verification.

However, for some users, awareness of the scheme was met with cautiousness and a degree of scepticism that the scheme appeared ‘too good to be true’, particularly among those who first became aware of it through less trusted channels, such as Facebook. In such instances, further research into the scheme through more reliable and credible sources was undertaken to provide reassurance that the scheme was genuine. This typically involved seeking verification via government communication channels, such as GOV.UK or the HMRC website or app. Some also took this as an opportunity to seek further information around eligibility criteria for enrolling in the scheme.

”I investigated on the HMRC website, and I liked what I read, you put in £50, and you get another £25 on top.” (Previous user)

While some users were motivated to seek further information after first becoming aware of the scheme, there was also evidence that other users only sought further information after several instances of seeing the scheme advertised or being prompted by others. This was due to initial misperceptions around who the scheme is targeted towards and its eligibility criteria, or because users paid little attention to detail at the initial point of communication. For example, some users overheard the scheme being advertised on TV or briefly saw it being advertised on the Tax Credit app. As these users were not actively paying attention at these initial points of communication, it meant they were less likely to fully engage or to make an informed decision at that time.

”I thought was ridiculous that anyone would offer that [‘50% interest rate’]… and then I looked into it and realised that it was actually genuine.” (Active User)

3.3 Awareness of Help to Save among non-users

All interviewees had been screened to ensure at least some prior awareness of Help to Save. However, it is worth noting that for some non-users this was limited to a vague recollection. For example, some non-users were aware that it was a savings account, but did not have a detailed understanding of the scheme or how it operates.

Like users, non-users first became aware of the scheme through a range of sources. Additionally, some also mentioned first becoming aware of the scheme through their local Jobcentre Plus. However, the information sources mentioned by non-users tended to be more ‘informal’ channels, such as social media, which were not considered trustworthy sources of information.

3.4 Impressions and considerations of Help to Save among non-users

Misperceptions of Help to Save tended to relate to the intended users of the scheme.

Some non-users who worked full-time assumed that, because they were earning a ‘decent wage’, alongside claiming the relevant Tax Credits, they would not be eligible for the scheme or that the government would only support those on incomes lower than their own.

”I don’t know a lot about it… I saw something on Martin Lewis newsletter…I only briefly looked at it and just assumed that it was for people on a really low income, like those on free school meals.” (Non-user)

”I saw some stuff about it [Help to Save scheme], maybe on the telly… [I] didn’t really look into it, I just thought that it was for people on a very low income. I don’t know, it’s that name, ‘Help to Save’, it does not present itself as something for me… more [for] people living on the poverty line.” (Non-user)

Conversely, there were other assumptions that Help to Save was not targeted towards those who were receiving benefits as they felt the maximum monthly deposit of £50 was, as some referred to it, too high a “target” for those potentially already facing financial hardship. For others, the £50 cap created doubts around the worthwhileness of opening an account if they did not feel they would be able to contribute this amount each month and therefore unable to benefit fully from the maximum available bonus. This indicates a misunderstanding amongst some non-users around the conditions of the scheme since the £50 cap is not a ‘target’ nor ‘essential’ to benefit from the Help to Save account.

With these findings in mind, it was evident that some non-users had ruled themselves out of considering Help to Save further, perceiving the account as something that was “not for me”. For others, the scheme was perceived as not fitting their needs or considered to be a high priority at the time, typically driven by a perceived lack of affordability or capability to save. Some non-users mentioned forgetting about the scheme shortly after first hearing about it, or that ‘life got in the way’ of investigating further.

3.5 Awareness of the details of Help to Save among non-users

Prior to interviews, all participants were screened to ensure they had at least heard of Help to Save, however no screening questions were asked to determine understanding of how the scheme works.  Among non-users, there were mixed levels of awareness around the specific details the scheme.  For some, awareness was limited to the fact that it was a “government scheme”, with little known of the details of it. Other non-users had varying levels of understanding around how the scheme operates. Some knew about the £50 maximum deposit limit per month, while others referred to there simply being “a cap” but did not know, or were unable to recall, how much this was. Similarly, some were aware of the 4-year term of the scheme and that savers received a bonus on their savings, but they were unsure of how this would be calculated.

Other examples of misperceptions among non-users included: a minimum deposit requirement each month (as referred to above, some non-users had understood the £50 cap to be a “target”), an inability to withdraw money from the account for several years, and that savings deposits would be taken directly out of individuals’ Tax Credit or Universal Credit payments.

For non-users that did go on to conduct further research into Help to Save, this typically consisted of only a brief search. This included looking at trusted online sources such as GOV.UK or the HMRC website, or talking with friends and family. However, after researching further, some considered the purpose of the account not suitable for their current circumstances or considered the rules and workings of the scheme to be overcomplicated, deterring further investigation or signing up.

”I probably did a little mini quick search on it [GOV.UK website], and then didn’t look into it again and forgot about it… [the rules] felt a bit faffy.” (Non-user)

4. Barriers to take-up of Help to Save

Chapter summary

This chapter explores barriers to take-up of Help to Save among non-users of the scheme.

Key findings included in this chapter are:

1. A common barrier that prevented non-users from opening a Help to Save account was a general lack of knowledge and understanding of the scheme.

2. Limited awareness and misperceptions of how the scheme operates, and its eligibility requirements prohibited further consideration among some.

3. Some considered the scheme to lack suitability to their current savings needs or goals.

4. Affordability barriers and limited income to fully benefit from Help to Save prevented take-up of the offer among some.

Non-users of Help to Save reported a number of reasons why they hadn’t enrolled in the scheme, despite being aware of it. An overarching theme was that of a general lack of awareness of the details of  Help to Save, in particular its eligibility criteria and how the scheme operates, rather than it being a conscious decision to not open an account based on informed understanding. These factors are discussed further below.

4.1 Limited Knowledge and understanding of Help to Save

While all participants were screened to ensure they had at least heard of Help to Save, a common barrier that prevented non-users from opening a Help to Save account was a general lack of knowledge and understanding of the scheme.

Non-users generally felt that the Help to Save scheme was not well known. As mentioned previously, while non-users were screened to ensure pre-existing awareness of Help to Save, it was apparent in the interviews that for many this was limited to only vague awareness and recall of the name of the scheme. Some called for more widespread marketing through a variety of channels. Suggestions included introducing notifications on the HMRC app or their online account to prompt awareness and encourage those eligible to sign up.

”I think there needs to be more advertising on this. I only heard about it through word of mouth. They need to advertise on billboards, bus shelters… There should be sections in your Universal Credit journal about it… push messages, mail people about it.” (Non-user)

”One criticism that I would make is the lack of marketing on this [Help to Save]. It was just buried on the website. You need direct marketing of this, through your Universal credit journal. I go in there every time I make a change.” (Non-user)

4.2. Lack of understanding around eligibility and how the scheme operates

Some non-users reported that they were unsure about their eligibility for Help to Save, with confusion and questions raised around earnings, savings, and benefits. These included questions around the threshold of earnings or existing savings, or the applicability of current working status, benefit entitlements, or the specific type of benefits received.

Discussing the details of the scheme during the interviews meant that some non-users became aware of their limited understanding or, in some cases, misperceptions of the Help to Save scheme in real-time. Considering this, some non-users reported that their lack of clarity and misperceptions were mainly due to a lack of research into the scheme or instinctive assumptions about how it operates.

However, others reported that their impressions had been formed from the details provided at the point of first becoming aware of the scheme. This was most notable among those who had first become aware of Help to Save through information provided in online social media groups or forums, where information was more hearsay and anecdotal than from official, trusted sources.

Some non-users reported that additional information would have been useful in helping them to make a more informed decision on whether to take action. This included having the rules of the scheme explained based on a range of different or their own personal circumstances. Some also stated preferences for the information to be presented in a way that would make it easier for them to comprehend. Suggestions included images or graphics, rather than a text format, to help potential users identify the key requirements for, and main purpose or benefits of, signing up for a Help to Save account.

Some non-users were worried about any potential negative impacts that saving for and receiving a Help to Save bonus would have on the Tax Credits or Universal Credit they received. Some non-users were concerned these benefits may be stopped or reduced if their savings increased above the threshold allowed. These non-users reported that support payments were critical to their month-to-month and longer-term income, and therefore took priority over saving and any short-term benefits or bonuses that could be achieved by saving.

”I need to be careful that, when I am saving, if I get to a point where I have too much savings then that would affect my housing benefit which means I won’t be able to afford the rent, which means I would have to take all the money out of Help to Save.” (Non-user)

Knowledge of the rules of Help to Save differed amongst non-users. Those with lower levels of understanding had concerns about whether they would have to wait 4 years before making a withdrawal. Some were also unclear on the way in which the bonus is calculated and, for example, whether making withdrawals within the 4-year term of the account would impact this.

Uncertainty over changes in circumstances was also cited as a barrier for some. Some non-users were unsure whether they would still be eligible to maintain a Help to Save account in cases where they may no longer be entitled to receive benefits or if they had a change in income. 

”It’s the lack of understanding with depth… I would need someone to explain to me clearly, for me to understand that, yes, it is the right thing for me.” (Non-user)

4.3 Lack of perceived suitability to current savings needs or goals

A range of saving experiences were reported by non-users. Some non-users had existing saving accounts such as Individual Savings Accounts (ISA) and the Lifetime ISA (LISA). Others built up savings in their current accounts or used features such as ‘money pots’ where the money that is deposited into their current account is rounded up and allocated to a saving pot. Some non-users saved in jars at home. This is covered in more detail in Chapter 6 on proportionality and appropriateness.

Some non-users did not consider Help to Save suitable because they could not save more than £50 a month in the account. This was reported by non-users with established savings behaviours, including those with existing savings elsewhere and those who could save more than £50 a month through their existing mode of saving, who preferred the ease and convenience of having their savings in one place. Some non-users with variable incomes also spoke of a preference for flexibility around deposit amounts, where they could deposit more than £50 in some months to compensate for months where they could not make a deposit or could only deposit a small amount.

”I would like to save more than £50… I think I would use it if you could save more. If [it] changed to say £100, even if even you didn’t get bonus on that. It’s the convenience of having all the money in one place.” (Non-user)

”We have variable income, what if one month we could save £100, but we don’t have the money to save the next month, so we save nothing that month?” (Non-user)

Prior to specific interview questions around proportionality and appropriateness of Help to Save, some non-users spontaneously reported that they would be more likely to consider enrolling in Help to Save if bonuses were paid more frequently and at shorter intervals, for example every 6 months to a year. These non-users felt that this bonus structure would be more suited to their needs or motivate them to save more. This was particularly the case for non-users with short term savings goals, and those who anticipated future cash-flow difficulties who wanted to reap the benefit of bonus payments earlier or more frequently.

”I didn’t open a Help to Save account because I was saving for a car, which was a short-term goal. I wasn’t going to benefit as much as it wasn’t a long-term goal. Now I’ve got a longer-term goal, to save for my daughter, so I think I would consider it again.” (Non-user)

”When people are on a low income it can already be quite depressing and trying to save on top of that. It feels a long time before you see progress. If they could see it in the shorter period of time it might be more motivating.” (Non-user)

4.4. Affordability barriers and limited income to fully benefit from Help to Save

Although some non-users said they had savings accounts elsewhere already, a common barrier to saving generally among non-users was the perceived inability to save consistently, due to unexpected outgoings, increases in the cost-of-living, childcare costs, and generally experiencing financial difficulty to “make ends meet”.

”If I have more money coming in, then I would save, but we just don’t have it… Everything is a stretch and salaries are not increasing.” (Non-user)

As mentioned previously, some non-users also reported that, by not being able to save the maximum amount permitted each month (£50), it would mean not receiving the full bonus and therefore not reaping the full reward of the scheme. Non-users acknowledged in the interviews that not being able to save the maximum amount each time was a barrier: it was felt that enrolling in Help to Save at this current moment in time would not be worthwhile, or at least not as worthwhile as it could be during times of fewer financial pressures and of greater affordability.

5. Experiences and impact of Help to Save

Chapter summary

This chapter explores the experiences of setting up and using Help to Save, as well as the impact of enrolling in the scheme on reaching savings goals and encouraging users to save (more).

Key findings included in this chapter are:

1. Experiences of setting up and using Help to Save were reported positively with users feeling confident about the rules and purpose of the scheme.

2. For active and previous users, some reported that their experience of participating in Help to Save had positively changed their attitudes and approach to saving, particularly those who had little to no previous experience of saving.

3. While some active users planned to maintain their saving behaviours beyond the term of their current Help to Save term, and some ex-users were already doing so, some suggested that they may be less likely to save as much, or with as much discipline or consistency, once the incentive of the Help to Save account is removed when their account matures.

4. Changes to personal circumstances, life events, the pandemic, and rises in living costs were cited as barriers to saving, both in terms of initial take-up of Help to Save among non-users and in maintaining consistent saving behaviours among users.

5.1 Experiences of setting up and using Help to Save

Echoing previous HMRC customer experience research on Help to Save, setting up a Help to Save account was generally described by users as a straightforward and secure process. Completing the process via the online HMRC portal provided reassurance, as did knowing their savings would be in a government savings scheme, rather than a savings account from a high-street bank which could be more susceptible to changes in interest rates or at risk of insolvency. This was based on a general assumption by users that government-schemes may be more protected, and therefore a less ‘risky’ option. For some users, this level of trust and reassurance had been gained from other positive experiences of government savings schemes, such as the LISA.

Users reported that they felt confident about the rules and purpose of Help to Save upon enrolling and setting up their account. In particular, users appeared to have a good level of knowledge around the maximum deposit amount per month, and of the bonus being calculated at 50p per pound saved. Users tended to have lower levels of understanding around how the bonuses were calculated, the timing of when bonuses were paid, and the ability to, or potential impact of, withdrawing money during the term of the scheme.

”It [Help to Save] was simple – save £50 for 2 years and get a bonus of £600 at the end. That could not be any simpler.” (Previous user)

Users reported that their deposits into their Help to Save accounts were typically made up of a combination of income received from employment, Tax Credit payments, Universal Credit payments or other benefits. Users did not view their deposits as coming from any one specific source. No evidence was found of users transferring money from existing savings accounts into their Help to Save account.

Help to Save accounts are intended for individuals: those receiving Tax Credits or Universal Credit payments as a couple need to apply for separate Help to Save accounts. Despite this, a few users reported that they used their Help to Save account as a joint savings account with their partner. These interviewees told us that were motivated to do this either because they felt unable to afford to make the maximum monthly deposits individually to achieve the maximum bonus, or because they did not want the administrative burden of managing 2 separate accounts in one household.

No significant issues were reported by users during the term of using their Help to Save account. However, a few users who had received at least their first bonus suggested that they had not expected or wanted bonuses to be paid into their current account (bonuses are not paid into the Help to Save account). These users felt this made it easier for the bonus payment to get lost in everyday spending rather than being used towards the specific savings goals for which they had enrolled in Help to Save.

5.2 Impact of using Help to Save among active and previous users

Both active and previous users reported that their experience of participating in Help to Save had positively changed their attitudes and approach to saving, particularly those who had little to no previous experience of saving and those who had assumed they would not be able to afford to save.

Both active and previous users said that receiving the bonus was a key motivator in continuing to save, helping them develop new, consistent savings habits during the term of their account. In particular, many reported that receiving the first bonus was a strong motivator to continue saving towards the second, especially those who had not saved, or received any form of bonus for doing so, previously.

While those with previous experience of saving spoke of already being used to regularly and consistently depositing funds into a savings account, many active and previous users without previous experience of saving told us that Help to Save had encouraged them to set up a standing order to be paid at the start of each month into their Help to Save account to do this. While for such users this was reported to be a new behaviour, they reported that they came to see this spending as a non-negotiable monthly bill. It was reported that this was a behaviour they planned to maintain, or in the case of previous users, were already continuing to in a separate account elsewhere now that their Help to Save account had matured.

”Once you set up the Direct Debit [standing order] and it’s going out, you just sort of forget about it.” (Inactive user)

However, some active users indicated that they may be less likely to save elsewhere, once the incentive of the Help to Save account is removed when their account matures. They attributed this to other savings accounts being less generous – offering rewards of less than half the amount available through Help to Save – and therefore seen as less appealing or motivating. As a result, some active users suggested that they may be less likely to save as much, or with as much discipline or consistency, once the incentive of the Help to Save account is removed when their account matures. This was most apparent among those who were also concerned about increasing living costs or affordability and felt the offer of a lower rate of return made the prospect of saving less enticing, or simply less of a priority at this current time.

”Before I saved in a current account, but this was easy to spend. But, since Help to Save, I have opened a Yorkshire Building Society account, you can’t reach that straight away. It’s not instant access.” (Previous user)

Both active and previous users were positive about their experiences of Help to Save and reported a range of positive and tangible outcomes as a result of using Help to Save.

Achieving or being closer to their savings goals

Some active and previous users said Help to Save had brought them closer to their saving goals or allowed them to achieve their saving goals that they may not have been able to otherwise. Saving goals were often for big purchases, such as a home, or for paying off debts.

”I do try to think about at least having that £50 left over each month, it gives you a set savings goal, whereas with the ISA there wasn’t that target.” (Active user)

Greater sense of financial resilience

For some active and previous users, Help to Save had simply helped provide a greater sense of financial resilience by helping them to build a ‘rainy day’ fund, improving their ability to cope with rising or unexpected living costs.

”It gave me an understanding of saving…I feel more financially secure. I now have savings… It’s got me into a habit of savings.” (Previous user)

Enabling positive behaviour change

Both active and previous users who had not saved before said that Help to Save had proved that they had the ability to save.

Positively, for most previous users, this was a new behaviour that was already being maintained in the longer term: they had continued with their monthly saving pattern beyond the lifespan of their 4-year Help to Save term. Equally, most active users anticipated that they would continue this behaviour once their Help to Save account matured.

”I did not think I had the money to save, but really, I do. Now, I have carried on saving that £50. I prioritise that £50 saving, over frittering that money away. Straightaway [after finishing Help to Save] I started saving into another account.” (Previous user)

5.3. Impact of using Help to Save among inactive users

Inactive users reported that personal circumstances, life events, the pandemic, and rises in living costs had made it challenging for them to save. They attributed these factors to their lack of contribution to their Help to Save account and expressed regret that they had not been able to make use of their chance to benefit from the scheme.

”It is not a case of deciding not to save – it is impossible. We will struggle to pay the rent.” (Inactive user)

Concerns around future spending and rises in living costs were also cited as a deterrent to using their Help to Save account. For example, one inactive user said that, though they had the capacity to save, they were nervous about putting money into an account and it potentially being ‘locked away’ when they had concerns about increasing or unexpected bills. 

”I am scared to save, [I am scared] of putting money in savings and then I won’t have the money to pay for a really high bill.” (Inactive user)

None of the inactive users included in this research reported negative experiences related to, or negative impacts of, opening a Help to Save account.

6. Proportionality and appropriateness

Chapter summary

This chapter explores responses from users and non-users to a series of hypothetical scenarios to assess the proportionality and appropriateness of Help to Save.

The key findings included in this chapter are:

1. Reactions to a series of hypothetical scenarios revealed that participants’ preferences for the ideal Help to Save scheme differed depending on both their current personal financial circumstances and their future savings goals and spending priorities.

2. The scheme as it worked at the time of this research, was the most appealing to participants.

At the time of writing, Help to Save offers users:

• an account opening process that must be accessed through GOV.UK or by calling HMRC

• the ability to receive a maximum bonus of £600 after each of the 2 years

• 2 bonuses – the first bonus paid 2 years after opening the account, and the second bonus paid after the account has been open for 4 years

• a first bonus based on the highest amount in the account at any point over that period (meaning that users still receive a bonus based on putting as much money in the account as they can, even if they make withdrawals)

• a second bonus that is based on the difference between the highest balance in the first 2 years and the highest balance in the second 2 years

In the interviews, a series of hypothetical scenarios were explored with users and non-users to understand the proportionality and appropriateness of Help to Save —specifically, whether similar outcomes may have occurred if the generosity or format of the scheme was different. These scenarios are listed below.

Different bonus amounts were explored, including options for either:

• a reduced bonus so that the maximum was £300 after each of the 2 years, instead of £600

• an increased bonus so that the maximum bonus was £900 after each of the 2 years, instead of £600

Different bonus frequencies, and preferences for a smaller bonus more often or a bigger bonus less often, were explored, including options for either:

• a bonus paid every 6 months, instead of every 2 years

• a bonus paid once a year, instead of every 2 years

• a bonus paid once, at the end of 4 years instead of every 2 years

A different way of calculating the bonus was explored: a bonus based on the total of the amount of money users have put into their account, minus the amount they have withdrawn (instead of the bonus being based on the highest balance of their account in 2-year period).

A different process and format for enrolment in Help to Save was explored: all interviewees were asked to consider the impact of HMRC automatically enrolling eligible individuals and posting them details of the account ready for them to start using, instead of setting up an account themselves.

With each scenario in mind, users and non-users were asked to consider the impact of different levels of generosity or formats on their behaviour, exploring take-up and use of Help to Save, and the impact on their approach to saving.

While each of these scenarios were covered in the interviews and are discussed in this report individually, the interviews revealed other barriers that would need to be addressed alongside any hypothetical changes to Help to Save to fully prompt consideration or take-up. For example, for non-users, barriers to awareness and understanding would need to be addressed before the appeal, and any potential impact, of a different bonus amount or frequency would take effect.

6.1. Different bonus amounts and frequency of bonus payments

General attitudes towards the amount and frequency of bonus payments appeared to be determined by interviewees’ broader financial context. More frequent bonuses of lower amounts tended to be preferred by those with savings goals that were smaller or shorter-term, or those that felt money may be needed to accommodate unexpected or urgent needs.

”It would be more reassuring to know you’ve got a little coming in more regularly than have to wait a longer time for a bigger amount. You never really think more than the next month ahead so if you could have it coming, in not so many months away, that would be better.” (Non-user)

Less frequent bonuses of a higher amount tended to be preferred by those who felt more able to commit to saving longer-term or had more substantial savings goals. These interviewees typically indicated that they preferred to receive a maximum bonus of £600 after each of the 2 years. Both active and previous users in this group also said that their own experience of Help to Save had shown them the value of this approach.

”I would prefer bigger bonuses less often. I want the money – and want to be able to do things that I wouldn’t normally be able to do. If it was a shorter term, I could just get that together and do that myself. If it’s longer term and I’m not touching it. Realistically – it’s a bigger goal.” (Non-user)

Scenario 1: A reduced bonus so that the maximum was £300 after each of the 2 years, instead £600

Users and non-users reported that they would still open a Help to Save account if the bonus offered was reduced to a maximum of £300. In comparison to the incentives and rates of interest available elsewhere, the offer would still be appealing. This was particularly the case for those who had considered other savings options such as ISAs or instant access savings accounts, and recognised a ‘25% interest rate’ was still considerably better than anything available elsewhere.

”You are still getting £300 [with a reduced bonus]. That rate you would not get anywhere else…” (Previous user)

However, amongst both active and previous users who said that the experience of receiving their first bonus had increased their motivation to save towards their second bonus, some noted that a reduced bonus may not have been impactful in the same way. Consequently, these users suggested that a lower bonus amount may have resulted in them saving less money into their Help to Save account compared to a higher bonus.

Scenario 2: an increased bonus so that the maximum bonus was £900 after each of the 2 years, instead of £600

Users and non-users said that increasing the bonus to a maximum of £900 would make Help to Save even more appealing. In this scenario, most stated that they would be even more likely than they already were to open an account, suggesting a possible increase in uptake as a result. Users and non-users also reported that a higher bonus may make saving into their Help to Save account an even higher priority, such as by making spending sacrifices elsewhere to ensure they made the maximum monthly contributions.

”[The increased bonus] is a much better option… I would save the full £50 because of the bonus, I would cut back clothes, trainers for my daughter.” (Non-user)

Scenario 3: A bonus paid every 6 months, instead of every 2 years

A more frequent bonus was met with mixed responses from users and non-users.

Some users reported that they expected it would make little to no difference, as their intention was to save the maximum available amount and to preserve this in the account for the full term regardless. However, some users were also concerned that it would encourage bonus payments to be spent more readily or more frivolously as the amount would be smaller. This, in turn, could have an impact upon the perceived value of the account, as well as potentially reducing the motivation to continue saving in the account.

”[if it was] 6 months, I don’t think you really appreciate it, so you just spend it on something you don’t really need. It’s not much of an incentive. It gets lost.” (Previous user)

Others, particularly non-users, found the prospect of a more frequent bonus to be appealing, attracted by the ability to better support smaller or shorter-term savings goals, and stated that they may be more likely to open an account as a result.

”[If the bonus was paid every 6 months, I’d be] more likely to open, as feels like less of a long-term commitment. Short term solution to a gain.” (Non-user)

Scenario 4: A bonus paid once a year. Instead of every 2 years

Responses to a yearly bonus were mixed and similar to those of a bonus every 6 months.

In addition, non-users and inactive users who were reluctant to ‘lock money away’ for significant periods of time in case they needed it in an emergency were supportive of increasing the frequency of the bonus to once a year. This was felt to be a ‘sweet spot’ between every 6 months and every 2 years, which these groups indicated would likely make opening an account more appealing.

”6 months is probably a bit short for the people it’s aimed at…I would say probably a year minimum would benefit anyone…I think 2 years is a long time, a lot can change in 2 years, a year is more reasonable you can see a reasonable growth in your savings if you choose and want to take it out you can.” (Non-user)

Scenario 5: A bonus paid once, at the end of 4 years instead of every 2 years

None of the users or non-users interviewed preferred a single bonus at the end of the 4 years and some reported that such a bonus structure would discourage them from opening an account at all.

Some active and previous users said that they would be unaffected by this bonus structure, as their intention was to save the maximum available amount and to preserve this in the account for the full term regardless.

”This does not make much difference to me as you still receive at the end the overall bonus… So even if I got it at the end of 4 years, it works for me as I would have got the total of £3,000, which was my goal.” (Previous user)

6.2. Different way of calculating the bonus

Scenario: A bonus based on the total of the amount of money users have put into their account, minus the amount they have withdrawn (instead of the bonus being based on the highest balance of their account in 2-year period)

Before this alternative way of calculating a bonus, interviewees were provided with detail of how the Help to Save bonus is currently calculated (by considering the highest balances from each 2-year period). All users and non-users interviewed said that they felt the way the bonus is currently calculated is fair. Non-users who had not previously understood that the bonus was calculated in this way were reassured to learn that they would not necessarily lose out for making withdrawals, if they were to open and use an account.

Users who had withdrawn from their Help to Save account before it matured, and users and non-users who thought they might need to make withdrawals in the future, said that calculating the bonus based on the final balance would be less fair, since it would punish those with poorer financial security. However, users and non-users recognised that this approach was somewhat easier to understand as it was similar to the way most conventional savings accounts operate with interest, or a bonus in this case, being calculated on the remaining balance in the account after any withdrawals had been made.

”If a person had saved £1,000 over 2 years and, just before the bonus was paid, they had to withdraw it… and that money had been sat there they’d always left the money there and literally at the last point they’ve had to take out the money, I don’t think that would be fair. Because it shows a pattern that they had paid money in every month consistently. I’d be less likely [to open an account] because it doesn’t seem fair.” (Non-user)

It is important to note that some users and non-users found it difficult to understand this scenario question, reflecting a broader finding that the bonus calculation can be confusing for some, even after explanation is provided.

In terms of driving the most positive impact upon take-up of Help to Save, a general preference emerged among users and non-users for the option that maximised reward and minimised the risk of this being reduced (for example, by making withdrawals).

6.3 Different process and format for enrolment in Help to Save

Scenario: HMRC automatically enrols eligible individuals and posts them details of the account ready for them to start using (instead of users setting up an account themselves

Users and non-users had mixed responses to the possibility of having an account opened on their behalf.

Those who were opposed to having a Help to Save account opened on their behalf felt that it would be a violation of their privacy and were concerned that such an approach would be likely to upset many people. This group said that they supported individuals’ ‘right to choose’ when it came to banking and financial matters, and often had strong, emotive opinions on the topic. This attitude was apparent across both non-users and users, some of whom stated that, despite their positive experiences of Help to Save, they would not have felt comfortable if their account had been opened in this way and it could have negatively impacted their use of it as a result.

”I would prefer to choose to open it… If there were all these accounts in people’s names that they did not want… You would still have to declare it all, like when I had to declare my ISA that only had 7 pence in it when I did my mortgage… I had to provide details for all of my bank accounts.” (Previous user)

Some non-users, particularly those with concerns over the potential impact of saving on Tax Credits or Universal Credit entitlement, found the prospect of being automatically enrolled less appealing as they were concerned that this could result in their benefit payments being reduced or removed.

Non-users who felt they could not afford significant contributions to a Help to Save account at the time of interview, in order to benefit from bonus payments, also found this option less appealing as they were concerned that it could potentially result in a missed or wasted opportunity. Some suggested HMRC should instead write to eligible Tax Credits or Universal Credit claimants to promote and explain the Help to Save scheme, rather than setting up an account on their behalf.

Conversely, users and non-users who said that they would prefer to have a Help to Save account opened on their behalf said that they felt that it would reduce the administrative burden of opening the account. Some non-users also recognised that this could overcome current barriers around lack of awareness and, in turn, make them more likely to use a Help to Save account.

”I think that would be a good idea because there’s obviously a massive percentage of the population that don’t even know anything about it. The 3 people that I’ve spoken to didn’t know anything about it until I mentioned it to them… So, yes, I think automatic opening of the account would be ideal and just explaining to people how they can set up a Direct Debit to go straight into it.” (Previous user)

7. Conclusions

HM Revenue and Customs (HMRC) commissioned Ipsos to evaluate the impact of Help to Save using qualitative and quantitative methods. This report outlines the qualitative findings from in-depth interviews with users of Help to Save and eligible non-users. The quantitative findings can be found on Gov.uk.

This qualitative strand of the evaluation has found evidence that Help to Save has had a positive impact on some users of Help to Save: active users (those using Help to Save at the time of the interview) and previous users of the scheme. These users attributed the scheme to the formation of new savings habits during the life of the account, to overcoming barriers to and misperceptions they had around their ability to save, and in encouraging new saving behaviours beyond the life of the account.

Two features of the Help to Save account stood out for these users. The size of the bonus available was considered generous enough to motivate them to save, and favourable when compared to other forms of saving available elsewhere, such as through ISAs or instant access savings accounts. The delayed bonus structure and frequency was considered suitable to encourage them to develop regular and consistent savings behaviours over an extended period of time.

Not all users benefited from their Help to Save account: findings from inactive users (those who had not made a deposit in their Help to Save account at the time of interview) underline the impact personal circumstances, life events, the pandemic, and rises in living costs have on the ability to save, which the Help to Save account cannot overcome. 

Issues around lack of awareness and understanding, as well as misperceptions of how the scheme operates and its potential impact on claiming Tax Credits or Universal Credit, were significant barriers among eligible non-users. However, findings from non-users suggest that greater promotion and increased visibility of Help to Save could help increase take-up among this group, further helping the scheme achieve its aim of encouraging new saving behaviours and greater financial resilience among users.

8. IPSOS standards and accreditations

Ipsos’ standards and accreditations provide our clients with the peace of mind that they can always depend on us to deliver reliable, sustainable findings. Our focus on quality and continuous improvement means we have embedded a “right first time” approach throughout our organisation.

8.1. ISO 20252

This is the international market research specific standard that supersedes 

BS 7911/MRQSA and incorporates IQCS (Interviewer Quality Control Scheme). It covers the 5 stages of a Market Research project. Ipsos was the first company in the world to gain this accreditation.

8.2. Market Research Society (MRS) Company Partnership

By being an MRS Company Partner, Ipsos endorses and supports the core MRS brand values of professionalism, research excellence and business effectiveness, and commits to comply with the MRS Code of Conduct throughout the organisation. We were the first company to sign up to the requirements and self-regulation of the MRS Code. More than 350 companies have followed our lead.

8.3. ISO 9001

This is the international general company standard with a focus on continual improvement through quality management systems. In 1994, we became one of the early adopters of the ISO 9001 business standard.

8.4. ISO 27001

This is the international general company standard with a focus on continual improvement through quality management systems. In 1994, we became one of the early adopters of the ISO 9001 business standard.

8.5. The UK General Data Protection Regulation (GDPR) and the UK Data Protection Act (DPA) 2018

Ipsos is required to comply with the UK GDPR and the UK DPA. It covers the processing of personal data and the protection of privacy.

8.6. HMG Cyber Essentials

This is a government-backed scheme and a key deliverable of the UK’s National Cyber Security Programme. Ipsos was assessment-validated for Cyber Essentials certification in 2016. Cyber Essentials defines a set of controls which, when properly implemented, provide organisations with basic protection from the most prevalent forms of threat coming from the internet.

8.7. Fair Data

Ipsos is signed up as a “Fair Data” company, agreeing to adhere to 10 core principles. The principles support and complement other standards such as ISOs, and the requirements of Data Protection legislation.

8.8. For more information

Ipsos UK

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About Ipsos Public Affairs

Ipsos Public Affairs works closely with national governments, local public services and the not-for-profit sector. Its c.200 research staff focus on public service and policy issues. Each has expertise in a particular part of the public sector, ensuring we have a detailed understanding of specific sectors and policy challenges. Combined with our methods and communications expertise, this helps ensure that our research makes a difference for decision makers and communities.