Benefits, Money

Do mine or my children’s savings affect my universal credit?

If you have over £6000 in savings your universal credit will be affected. You cannot get universal credit if your savings are over £16,000. Other things may also affect universal credit such as owning a holiday home.

Your children’s savings will not affect your universal credit. However if you have savings and transfer them to accounts for your children that money will still be counted as your savings.

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