Universal credit can help households make ends meet if workers are on a low income or someone is out of work Your savings can also affect how much you can claim and in some cases, whether you are eligible at all imogent_ tells you what you need to know
For your first child, the payment is £269.58 a month if they were born on or after April 6, 2017, or £315 a month if they were born before this date. For your second child, it’s £269.58. You might get extra for a third child,Your total – the standard allowance plus any extra payments – is then reduced depending on how much you earn, any other benefits you get and any savings you have.
The more complicated part is if you have savings between £6,000 and £16,000. This portion of your savings is treated as if each £250 gives you a monthly income of £4.35. Your universal credit payment is reduced by £1 for every £1 of savings income, so in the above example, £69.60 would be taken off your monthly payment.online through the Government’s website.
You will need details such as your national insurance number, monthly earnings, housing costs and a summary of any other savings.
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