The objective of this paper is to summarize analysis conducted to provide inputs to the Hybrid Social Protection Scheme (HSPS) pilot. Following the analysis conducted, the Benazir Income Support Program (BISP) launched the HSPS in December 2023. Eligible households for the scheme include existing beneficiary households (with a BISP unconditional cash transfer program cut-off score of 32) and those with a PMT score of up to 40. It is expected that a significant portion of households participating in the HSPS pilot consist of households with one or more members engaged in informal sector employment. The focus of the analysis was on gaining insights into saving behaviors, perceptions, and aspirations among potential participants in the HSPS through a survey. The research employed both quantitative and qualitative analysis to gather insights from a representative sample of BISP beneficiaries who exited the program due to improvements in their welfare status, making them ineligible for continued support. This study covered 12 districts across four provinces in Pakistan. The empirical findings suggest that financial literacy, digital inclusion, and family support are key drivers of saving demand. Conversely, taking loans, money transfer methods, and a lack of self-control in spending are observed to have adverse effects on the saving behavior. The multinomial logit analysis indicates a preference for monthly saving frequency and a rationality toward saving with the expectation of lucrative profits and matching contributions from the government. Moreover, the qualitative results underscore the feasibility of implementing HSPS tailored to the savings behavior of BISP beneficiaries contingent upon their willingness to open bank accounts. The study emphasizes the need to enhance literacy skills, promote digital access, and provide customized training and awareness initiatives to successfully implement the HSPS.