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Thread: UC LCWRA and Savings

  1. #1
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    UC LCWRA and Savings

    Hi everyone just need a bit of advice pls .

    I’m claiming UC LCWRA and have some savings, I got a little bit of interest on them a few months back that took me a little over the limit before they start deductions (£6000) . I read somewhere that if you win money you have 12 months before they start deductions ? Is the same true with interest ? I went over by out £18 I think . Just panicking about it .

  2. #2
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    No it's not the same for interest, it's counted immediately, but £18 won't make much of a difference even if you hang on to it.

  3. #3
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    Oh thanks noisynoodle , I’m actually way under the deduction limit now because of Xmas and presents . I’m just worried that if they ask for statements and see I was slightly over for a couple of months it might cause an issue?

  4. #4
    Senior Member nukecad's Avatar
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    The is no deferral if you 'win' money either, I don't know where you heard that?

    You may have got it mixed up with if you are sucessful at MR/appeal and get backpay of benefits.
    Benefit backpayments can be disregarded, most for 52 weeks, some indefinitely.

    Between £6,000 and £6,250 in savings will mean £4.35 will be deducted from UC each month.
    It's a bit awkward as it's gone down again but it's probably better to tell them now that it went just over and you hadn't noticed it; and let them take 8 quid or so from your next UC payment.
    Better for you to tell them than letting them find out later and start asking questions.
    I don't know everything. - But I'm good at searching for, and finding, stuff.

    Migration from ESA to Universal Credit- Click here for information.

  5. #5
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    Ok thanks nukecad , I’m sure I read that winnings have a deferral of 12 months somewhere on a forum , not sure if it was this one, maybe I misread it though .

    Thanks for the advice and hope everyone has a good Xmas .

  6. #6
    Senior Member nukecad's Avatar
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    Like I say I think that has somehow got mixed up with 'winning' a MR or an appeal and getting benefits backpaid as a result.

    You couldn't realy expect someone who won over £16,000 on the lottery or similar to still be able to claim income related (means tested) benefits for another year after winning.
    I don't know everything. - But I'm good at searching for, and finding, stuff.

    Migration from ESA to Universal Credit- Click here for information.

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