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HMRC encourages customers to sign up to Help to Save, the government savings scheme, after revealing savers shared £146 million in bonus payments.
Sign in to your Help to Save account - check your balance, grow your savings and bonus, read your messages and do other tasks
More than 60,400 savers across the UK have earned their first Help to Save bonus payment, each receiving an average of £378 in time for Christmas, HMRC can reveal.
Treasury launches pilot of new PrizeSaver account, with savers who put away as little as £1 with participating credit unions having the chance to win up to £5,000 a month.
First winner of the new PrizeSaver account will receive £5,000 in time for the holiday season.
Savers have deposited £13 million in Help to Save accounts that give them 50p for every £1 they save.
New statistics reveal more than 132,000 Help to Save account holders are eligible for bonuses totalling £14 million.
The scheme helps those on lower incomes build up a ‘rainy day’ fund and encourages a long-term savings habit.
Help to Save means low-income savers on tax credits and Universal Credit can get a 50% bonus from the government on whatever they manage to save.
The new Help to Save tool in the HMRC app lets savers set goals and personal reminders.
The Lifetime ISA will be available for young adults from April 2017 as the Savings (Government Contributions) Bill receives Royal Assent. The Help to Save scheme to help people on low incomes will be available from 2018.
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