Universal Credit Savings Limit / Backpay added query

scope1234 · May 2023

Hi,In 2020 ( 3 years ago ) i had £6,000 savings ( Im single person ) ...UC owed me backpay due to LCWRA, which was £3,000 .. so in 2020 i had £9,000 ..Its now 2023, and i still have £9,000 savings .I was told by UC the £3,000 'Backpay' does not count as 'Savings' its disregarded .... But i have read its only disregarded for 1 year . .. My Question .. as i have £9,000 .. where do i stand, is £3,000 disregarded completely or for only 1 year .. Nobody seems to know ... ( £9,000 has been in my savings account for 3 years now ) UC replied in my journal says its disregarded .. doesnt say anything about a time limit ..please advise, as i want to do the right thing, im worried i will get penalised or have to give back money ?? no one can give me a definitive answer .. I rang UC today, it was all, ifs & Buts, and maybe .. lady didnt know, was guessing answers it sounded like ! ( If anything happens, my Journal answer states 'It's disregarded' ( Nothing else ..legally am i in the clear, and can worry less now ? )

poppy123456 · May 2023

The money that was owed to you (£3,000) will have been disregarded for 1 year. After this time it will be included in your total savings.

You need to report your savings by reporting a change of circumstances. There will be a deduction of £4.35/month for every £250 or part there of over £6,000. You will have an overpayment that will need to be repaid back.

scope1234 · May 2023

ok, Thanks for info ... I have received around £1,200 from the Government Help, i gather this IS disregarded ? , so im only £1,800 over limit ? is this correct ? Thanks ( 2023 ) Balance is £9,000 savings )

poppy123456 · May 2023

There’s been 3 cost of living payments in the past year if you’re just claiming UC. £650 from last year and £301 for the payment from this month. That’s £951 in total.

scope1234 · May 2023

ok Thanks

Universal Credit Savings Limit / Backpay added query

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