View more on these topics

Govt targets low paid with ‘help to save’ initiative


The Government is to launch a ‘help to save’ programme for people on low incomes designed to enable them to build up a “rainy day” fund.

In a wide-ranging speech on boosting life chances focused on the poorest in society, Prime Minister David Cameron confirmed a new programme will be unveiled later this year to encourage the low paid to save.

He said: “We’ll also to do more to help people save – and help build families’ financial resilience. Those with no savings at all have no buffer – no shock absorber – for when unexpected events hit.

“Saving is a habit that should start early – so we are going to expand the Church of England’s LifeSavers project which helps primary schoolchildren to manage money and learn how to save and we will look at what more we can be done on this vital area.

“So I can announce today that we intend to bring forward a ‘help to save’ scheme to encourage those on low incomes to build up a rainy day fund, and full details of this scheme will be announced at the Budget.”

The Government’s flagship savings initiative, automatic enrolment, has boosted the number of people saving in the UK since it was launched in 2012. However, only people earning more than £10,000 qualify.


Tracey McDermott FCA 700x450.jpg

FCA admits it will consider return to commission

FCA acting chief executive Tracey McDermott has admitted the Financial Advice Market Review may reintroduce some form of commission but claims the regulator will not reverse the RDR. Money Marketing revealed last week that the FAMR panel was considering radical reforms in a bid to boost access to advice, including lower qualifications and a return […]

FCA logo new 620x430.jpg

Robo-advice and new FCA rules set to take centre stage

Robo-advice, a new advice framework and the challenge of meeting new capital adequacy rules look set to be the regulatory issues that dominate in 2016. Advice firms have been told to brace themselves for yet more change in the form of a new leadership team at the FCA, as well as reforms to the advice […]

Cofunds recruits former Fidelity UK boss as operations director

Cofunds has recruited Marc Bulstrode as operations director. Bulstrode, who was previously head of change and business management in Fidelity’s UK business, has been charged with developing Cofunds’ service offering for institutional and retail clients. He has previously held senior roles at Barclays and Old Mutual. Cofunds chief executive David Hobbs says: “It is great […]

Claire Trott: Preparing for the new pension protections

We are gearing up for another new round of pension protection but this time it should have been much simpler. Online applications with no certificates issued and the ability to apply at any point the client wants to with no deadlines. Well, that is what we have been told to expect anyway. We have known […]

Choose life…

Sarah Scott  – Marketing Consultant, Royal London  This month sees the return of Renton, Sickboy, Begbie and Spud in the sequel to the film Trainspotting. Just over 20 years later, we return to see exactly how life treated the characters whose lifestyle was less than ideal back in 1996. Did they choose a job, choose […]


News and expert analysis straight to your inbox

Sign up


There are 6 comments at the moment, we would love to hear your opinion too.

  1. So Dave thinks that the reason that people have no money is because the Government hasn’t encouraged them to save a rainy day fund?

    And idiots vote for this moron…

  2. Priceless !!!

  3. What a plonker. If these people had any surplus surely the first thing they would want to do is to REDUCE THEIRT DEBT.

    My mantra at the last election yet again proves its validity.

    The choice was between syphilis and gonorrhoea. We’re all poxed now.

  4. Strange days, go to the bank for food, the supermarket for insurance, Westminster for savings and the Citizens Advice for a pension update. Can you please make my employer or little sister send me to Spain for a holiday Dave?

  5. @ Steven Balmer – brilliant!

  6. David Cameron is anything but stupid. I don’t know how he could be such a moron to come off with this garbage. These people are often up to their eyes in debt, try helping them pay that down first.
    As Paul Barnard says of Steve Balmer, brilliant indeed

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm