Problems with UC if I am named on/manage one of my parent's accounts?

Commanded2bwell

My parents are pensioners and struggle with physical mobility. As a result, I frequently do their shopping and other tasks. If it involves payment for goods or services, they give me their bank card, but often I've paid and we've sorted it out, later.

To simplify this arrangement, they propose to set up an "shopping" bank account in their name, with me named on the account so that I can both pay for goods, and deposit money. (This is quite a moment, to be honest, because I remember my Mum having the same arrangement with my Grandmother. I guess we're all getting older!)

My only concern with being named on their account is that I'm about to be migrated to Universal Credit.

Will my name on the account mean that the balance of that account is considered part of my own personal savings limit? Will being named on their account potentially cause any problems with my claim or payments, in the future?

poppy123456

It will be classed as 50% yours because it's a joint account. Savings of less than £6,000 are ignored so if there's less than this with that and what you have in your own accounts and elsewhere then there won't be anything to worry about.

poppy123456

Ah yes, if it's both parents then 33%.