Savings scheme for those on benefits

madhatter10

The government will be starting a scheme soon that encourages people on benefits to save regularly. Details can be found on the Directgov.org website under Money.

olias

Link here:

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ManagingMoney/SavingsAndInvestments/DG_10010450

Looks good, If you save the maximum, ie £25 pm, then after 2 years you will have saved £600 and the government will top it up by an extra £300!

Not sure what happens if you come off one of the qualifying benefits after you have opened the account though, it doesn't say.

Olias

jdturk

surely if you have enough benefits to save you are getting to much benefit?

olias

Yawn................

Olias

jdturk

olias wrote: »

Yawn................

Olias

I'm being serious, surely benefits are there to help people in times of need and to help literally survive the tough times.

Having read the article I see why and can understand the need for it but I would still question people who are on JSA being allowed to participate in this and if they are able then they are getting to much money.

nzmegs

Precisely my point too. Benefits should be only enough for basic survival. If you can afford to save any of this -let alone have it topped up with more from the government then something is seriously wrong. I am self employed and can't afford to save...give the top up to me....! This sort of thing just makes me mad. it is blatantly unfair. Why not encourage saving for people who are not on benefits and encourage those on benefits to get a job!

olias

I'm sorry, but what a crock!!!!!!!

What about for example those on benefits who cannot work due to disability? are you seriously saying that they should live their entire lives with just enough for basic survival?

child benefit/tax credits etc etc are available even if you are earning huge salaries.

I seriously hope that if you are ever in the unfortunate position of being unable to work through no fault of your own that you remember your comments and gladly exist at the level of 'basic survival'.

Olias

Arg

jdturk wrote: »

I'm being serious, surely benefits are there to help people in times of need and to help literally survive the tough times.

Having read the article I see why and can understand the need for it but I would still question people who are on JSA being allowed to participate in this and if they are able then they are getting to much money.

I don't particularly agree with this scheme but people complaining that that they're getting too much money if they can save a little are plainly ignorant.

jdturk

olias wrote: »

I'm sorry, but what a crock!!!!!!!

What about for example those on benefits who cannot work due to disability? are you seriously saying that they should live their entire lives with just enough for basic survival?

child benefit/tax credits etc etc are available even if you are earning huge salaries.

I seriously hope that if you are ever in the unfortunate position of being unable to work through no fault of your own that you remember your comments and gladly exist at the level of 'basic survival'.

Olias

I never said that about people who are on benefits because they cannot work shouldn't be able to participate, people who are in that unfortunate position should be given all the help they can.

However people on benefits such as JSA are the people who in my mind should not be able to participate in this scheme (as I said in post two if you look).

And I hope I don't either but you never know what may occur and if I do then I do and I would not expect to be able to do anything except just survive whilst on benefits such as JSA.

jdturk

Arg wrote: »

I don't particularly agree with this scheme but people complaining that that they're getting too much money if they can save a little are plainly ignorant.

Again, if it is for a benefit such as JSA then I stand by what I said, if it is for a benefit for people who cannot work then they should be given as much help as possible

Doom_and_Gloom

£25/month is a very little ammount. I think it is a good idea in theory. It means they save money to help for if something goes wrong (as they can get into the account if needed) - hoover/microwave/toaster/kettle/freezer/fridge/washing machine breaks down and they need another or if people need a new sofa/bed etc they can afford to. It means people on benefits won't fall back on places like brighthouse who charge more just because you can't/have a hard time getting credit on benefits. In that respect I think it is a good idea.