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  • FIRST POST
    • emma.cook3
    • By emma.cook3 10th May 17, 8:54 PM
    • 175Posts
    • 25Thanks
    emma.cook3
    universal credits and capital
    • #1
    • 10th May 17, 8:54 PM
    universal credits and capital 10th May 17 at 8:54 PM
    Can anyone explain about which, if any savings and capital you can have (above £6000) without it effecting your universal credits?
    1) if i own my own house, mortgage free, does that mean i cant collect any universal credits?
    2) Can i have a private pension which is worth more than £1600 or will this be counted as savings and therefore mean i cant get any UC?
    3) Can my children have savings in their name above £1600 or will that stop me collecting UC?
    I have had to leave a good job to be a carer recently and would be quite reliant on universal credits but want to keep my pension, my childrens university fund and my house. I am really worried so please be kind!
Page 1
    • Alice Holt
    • By Alice Holt 10th May 17, 10:09 PM
    • 1,199 Posts
    • 1,284 Thanks
    Alice Holt
    • #2
    • 10th May 17, 10:09 PM
    • #2
    • 10th May 17, 10:09 PM
    See: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/607309/admh2.pdf

    My view:
    1) Disregarded as Capital under UC

    2) Disregarded as Capital under UC (providing you are under the age at which you can draw this pension).

    3) Not necessarily - may depend on whether you have access to these savings. Likely to be subject to a DWP Decision Makers ruling.
    See https://www.lampfrey.net/adm/adm.html#H1077

    "H1077 Ownership of capital of a child or young person

    Capital owned either legally or beneficially by a dependent child or qualifying young
    person is not to be included in the capital of the claimant (1). However, the DM may
    still need to make enquiries about such capital if it appears to be owned by the
    claimant but is actually beneficially owned by a child or young person for whom they
    are responsible.
    1 WR Act 12, s 5"
    • TELLIT01
    • By TELLIT01 10th May 17, 10:13 PM
    • 3,603 Posts
    • 3,674 Thanks
    TELLIT01
    • #3
    • 10th May 17, 10:13 PM
    • #3
    • 10th May 17, 10:13 PM
    I'm presuming in point 2 about pension that you are referring to money paid into a pension, not a pension you are currently receiving.
    • emma.cook3
    • By emma.cook3 10th May 17, 10:44 PM
    • 175 Posts
    • 25 Thanks
    emma.cook3
    • #4
    • 10th May 17, 10:44 PM
    • #4
    • 10th May 17, 10:44 PM
    yes, a pension i would be paying into.
    • theronstar
    • By theronstar 13th May 17, 2:17 AM
    • 54 Posts
    • 26 Thanks
    theronstar
    • #5
    • 13th May 17, 2:17 AM
    • #5
    • 13th May 17, 2:17 AM
    Has Full Universal Credit even rolled out into your postcode?

    It has only fully rolled out for single people so far.
    • _shel
    • By _shel 13th May 17, 6:43 AM
    • 970 Posts
    • 1,737 Thanks
    _shel
    • #6
    • 13th May 17, 6:43 AM
    • #6
    • 13th May 17, 6:43 AM
    Has Full Universal Credit even rolled out into your postcode?

    It has only fully rolled out for single people so far.
    Originally posted by theronstar
    Not so, much of the north west includes families.
    Thanks to everyone who posts competitions
    • theronstar
    • By theronstar 13th May 17, 8:37 PM
    • 54 Posts
    • 26 Thanks
    theronstar
    • #7
    • 13th May 17, 8:37 PM
    • #7
    • 13th May 17, 8:37 PM
    Hence why I said 'fully'

    The North West was where Universal Credit was first introduced.
    • emma.cook3
    • By emma.cook3 15th Jun 17, 9:24 PM
    • 175 Posts
    • 25 Thanks
    emma.cook3
    • #8
    • 15th Jun 17, 9:24 PM
    • #8
    • 15th Jun 17, 9:24 PM
    Has Full Universal Credit even rolled out into your postcode?

    It has only fully rolled out for single people so far.
    Originally posted by theronstar
    Not yet, i am planning for the future
    • emma.cook3
    • By emma.cook3 15th Jun 17, 9:26 PM
    • 175 Posts
    • 25 Thanks
    emma.cook3
    • #9
    • 15th Jun 17, 9:26 PM
    • #9
    • 15th Jun 17, 9:26 PM
    See: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/607309/admh2.pdf

    My view:
    1) Disregarded as Capital under UC

    2) Disregarded as Capital under UC (providing you are under the age at which you can draw this pension).

    3) Not necessarily - may depend on whether you have access to these savings. Likely to be subject to a DWP Decision Makers ruling.
    See https://www.lampfrey.net/adm/adm.html#H1077

    "H1077 Ownership of capital of a child or young person

    Capital owned either legally or beneficially by a dependent child or qualifying young
    person is not to be included in the capital of the claimant (1). However, the DM may
    still need to make enquiries about such capital if it appears to be owned by the
    claimant but is actually beneficially owned by a child or young person for whom they
    are responsible.
    1 WR Act 12, s 5"
    Originally posted by Alice Holt
    what if my parents started some sort of trust fund for them? would that work?
    • TELLIT01
    • By TELLIT01 15th Jun 17, 10:35 PM
    • 3,603 Posts
    • 3,674 Thanks
    TELLIT01
    A Trust Fund implies that the money is 'ring fenced' and will be available to the children only at a later date. As long as you don't have access to that money it will not affect your entitlement to UC.
    • venison
    • By venison 15th Jun 17, 11:10 PM
    • 1,003 Posts
    • 1,061 Thanks
    venison
    Your parents could "save" the money for them in their own name/account,
    #WeStandTogether
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