UC and Children's Savings

bobbstar21

Before starting UC, I had savings for my 2 children in 2 separate pots in Monzo. These have not been touched for years, only added to and can be proven with bank statements just for those pots.

I declared these as part of my savings but I have now read Children's savings do not count if they are in the child's name.

Would it be intentional deprivation to move the savings to an account in their name?

The savings contribute quite a lot and I am concerned of eventually passing 16k. 

tacpot12

Ultimately, it would be for a decision maker to decide whether you were depriving yourself of capital that you own if you move their savings to an account in their own name.

I think that there is a fair chance that you would be successful in arguing that you had not deliberately deprived yourself of capital by moving their savings to an account in their own name, because you have not made any withdrawals. You have, from the outset and with no consideration to the effect on your means-tested benefits, put this money out of your reach.

You would need to move the money, and tell the DWP that you think they should be ignoring those savings, and wait to see what they decide. The risk is that they decide that you have deliberately deprived yourself of the money, and because it is now in accounts in the childrens names you cannot get it back, so you will lose some of your UC payment or bring your UC claim to an end, however, the same result would happen if you didn't move the money, so I don't think you have anything to lose.  

peteuk

If they are in the names of the children then they will be discounted, however at present they are currently in Monzo pots, which I assume is in your name,  Are the pots in the children’s name?

It ultimately would be the DM decision. 

bobbstar21

Thanks both.

The Monzo account is in my name but I have individual pots for each child, the pots are named after them.

I am not too bothered about reducing the savings deduction, I just don't want to reach the 16k limit.

I suppose for now I will move it anyways and if the DM accepts it as my children's savings then that's great, if not then I can't do much. Any new savings can go directly into the accounts with their names.