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Universal Credit

Impact on Award

  Universal Credit  /  How Much  /  Savings/Capital  /  Impact on Award
Savings/Capital: Impact on award
How any savings and capital assets affect an award depends on the total amount of assessable savings and capital assets that the claimant (or joint claimants ie. couple) owns - see below.

By assessable we mean that the UC Regulations don't list them as disregarded or treat them as income. 

Savings above £16,000?
The upper savings limit for Universal Credit is £16,000.

Where a claimant or joint claimants (ie. a couple) have savings over £16,000, then they will no longer be entitled to Universal Credit.
Reg 18, UC Regulations 2013

This change should be reported to the DWP by the end of the Monthly Assessment Period (MAP) in which the increase took place.

As soon as their savings are £16,000 or below then they would not be prevented - by their savings - from claiming UC again.

Rosie has been on Universal Credit for a couple of years, with a MAP running from 11th of each month. On 21st December her savings go over £16,000 as her grandmother has gifted her £1,000. But by 11th January her savings have dropped below £16,000 again.

Rosie should inform the DWP that her savings went above £16,000 and what she has spent since then. The DWP will review her claim and decide whether her expenditure is reasonable or whether she has any notional capital. 


 
 
 
 
 
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