Can you have £6k savings limit + monthly U.C benefits without reductions?

ellie_lou

Hi im ellie

Referring to the universal credit savings limit - if I have £6k in savings, and then get my usual monthly benefits ( around 1,250) will I then have deductions from my monthly benefits? because then my total will be over 6k... Or is the savings account classed as separate from the general usage account?

Jimm_Scope

Hey @ellie_lou, the money in all your accounts is counted towards the £6k. Whether it's in a savings account, current account or an investment that can be sold on.

I hope this helps answer your question!

ellie_lou

Thank you! 😊this website is very helpful

ellie_lou

poppy123456

When you receive your UC payment this is income and not capital (savings) it doesn't become capital until the end of the next assessment period, if you have anything left from the last UC payment.

ellie_lou

Poppy thank you - so my monthly income from UC (which all gets used up towards the end of the month) will not count unless there is any left over at the assesment period?

Is the assesment period every month?

So if I have 6k in a savings account, and then my usual income, nothing will get deducted from the income unless there is any left over at the end of the assesment period?

poppy123456

Yes that's correct. Your assessment periods are monthly and start on the first day you submitted your claim. For example if you receive your money on 24th of every month then your assessment periods will be 18th to 17th of every month.

It tells you on your statement page what the dates are. It will say something like "the amount you get is based on your circumstances from X date to Y date.

ellie_lou

This was very helpful thank you :)