Savings and Universal Credit - When to let them know?

Rumbler303
Rumbler303 Online Community Member Posts: 136 Connected
in Universal Credit (UC)

Hello,

If my savings are below 6000 and I'm dipping in and out of my savings every now and again, do I need to let DWP know? Or is this only if it's above 6000?

Similarly, I presume I don't need to report every time I dip in above 6000? I guess just be mindful of if it goes over each 250 i.e. 6250 then 6500 etc, to make sure it gets reduced?

Thanks.

Comments

  • OverlyAnxious
    OverlyAnxious Online Community Member Posts: 4,596 Championing

    If your savings are below £6000, you don't need to tell them.

    If your savings are above £6000, then you should check the total on the final day of your assessment period each month. If your savings have moved up or down through another £250 threshold since the last month, then you need to declare it and your payments will be adjusted.

  • Rumbler303
    Rumbler303 Online Community Member Posts: 136 Connected

    Thank you.

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