Universal Credit warning: Claims may be affected by lump sum back payments from the DWP | Personal Finance | Finance

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For those who have less than £6,000 in savings their Universal Credit claim will not be affected.

However, if a claimant has between £6,000 and £16,000 in savings, their payments will be reduced.

If this is the case, the first £6,000 is ignored and the remainder of the savings is treated as if it gives the claimant a monthly income of £4.35 for each £250, or part of £250.

So, for example, if a claimant has £7,000 in savings the first £6,000 of it is ignored.

READ MORE: Universal Credit can provide payments for housing costs – how?




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