If a person stops claiming benefits during this time, they are still able to continue using the account.
It is important to be aware saving money through this account could affect eligibility for certain benefits – as well as how much one can get.
In terms of Universal Credit and Housing Benefit, if a person or their partner has £6,000 or less in personal savings – including in their Help to Save account – this won’t affect how much Universal Credit they can get.
“Your Help to Save bonuses will not affect your Universal Credit payments,” clarifies the Government, with the bonuses not affecting Housing Benefit payments either.
“Any savings or bonuses you earn through Help to Save will not affect how much Working Tax Credit you get.”