[Andy]

ABCUL eXpresso – Help to Save Scheme

The government announced changes to the scheme design at Autumn Budget 2024, following previous consultation on the scheme, carried out in 2023. Alongside the budget, the government announced a two-year extension to the existing scheme and launched a consultation on future delivery of the Help to Save scheme.

The government is keen to explore the future delivery of Help to Save under a multi-provider model , involving various financial institutions like banks and credit unions. This aims to ensure comprehensive coverage across the UK to improve visibility and take-up of the scheme. Under this model, providers will manage accounts, claim bonuses from HMRC, and report regularly, with eligibility checks facilitated through an API.

ABCUL are keen to understand the volume of interest from our member credit unions who would be interested in delivering Help to Save from April 2027 as part of the multi-provider model so we can inform HMRC as part of the potential development of the scheme.. This call will discuss the changes that have been made to the scheme and the proposed process for delivery.

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