Savings for UC, does this count?

[beautifulsun]

Are they counted if in child's name?

My daughter (3) has a savings account. It currently holds about £4000

My monthly payment of UC is 1350. DLA about £650 (part is automatically paying for motability car). Carer's about £300. Salary of £1910 a month

I don't really have the cash to make premium bonds worthwhile

What would be the best way to put some savings away for her without the impact on UC savings limit?

Obviously I'm thinking very long term. She isn't reaching the 16k limit anytime soon (they only charge for it per £ or so once you're over £5099 in savings)

To be totally transparent, no, it isn't 'secretly' for me. Her current savings Account is an ISA and I cannot touch it. She gets money from family and friends for birthday etc on top of small contributions I make

No, I argued with people with an opinion on it. I didn't argue with anyone here if they knew or thought they knew child savings wasn't allowed

Big difference
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I wasn't having a go at you for arguing, I'm on your side. I was saying there are ridiculous people on here trying to make you feel bad and they're not worth it.

I don't know the answer but I have a very similar query. I would really appreciate it if you could come back to the thread when you get an answer from UC and let us know what they say, if you don't mind please?

@Winnipeggy sorry, didn't mean to be rude

No problem, I'll update when I can. Hopefully this week

@plugin12 yeah, the poster above you is right.

It's because of disabled child elements etc, severe disability element

If child's savings are in child's name and can't be accessed by the parent that is fine. So child ISA's etc are the best bet. If a parent has access to the funds and can withdraw funds then that could be tricky and probably wouldn't be accepted as child's savings.

Some of these replies are disgusting. I'm in a similar situation but SAVE 100 for my children from UC and wages. On that note op, open a help to save account. It's 50% back! Great savings accounts as even this awful government recognises we are allowed to save to. How dare we not be stupid with money. Who's to say savings don't come out of the wages and UC goes in living!?
Having a child with severe needs is hard, they cost a LOT more than average child their age. I am saving for my child's future for when I can no longer care for them.
You are fine op. Child savers DO count as you can access. Junior ISA do not as it is your childs.

Do you receive a monthly total of £4,210.00 or does your UC combine the DLA etc ?

Some people have family who buy children a huge surfeit of gifts. Others save for them instead. Why should that prevent a parent from claiming what they are/may be entitled to?

Oh stop it. Why don’t you go and do some research and you’ll see that ISA’s are completely disregarded. A parent cannot withdraw an amount from a child’s ISA so that has no impact on a UC claim.

If someone gets UC and puts £50 away for their child in an ISA each month, so what? That £50 can be coming out of OP’s wage and she uses UC for everything else. OP it’s always best to post on FB UC support groups as you get more helpful posts and less shitty comments like this. Save in the ISA and it doesn’t impact the 16k savings limit as you can’t access the money anyway

There is no savings limit on contribution based ESA. It may not sit well with you, but she could have a million stashed away and it would not affect her cont based ESA or PIP one jot.

I think it's mainly jealousy to be honest. savings are great for young people, helps them to have a good start to adult life for whatever they need it for- unless like my eldest ds you fritter it all away in the first term at Uni !

ESA Contributions is not means tested. No savings are taken into account.

@beautifulsun you still gets carers allowance earning over £139 a week? that's what I was told the max was before I was no longer entitled .

Maybe has a working partner?

Have you tried having a disabled child so that you can get DLA and the carer element for them? Why don’t you up your monthly income instead of moaning about what a parent carer is able to save each month?

I've just stopped since I took on this new role that's TTO

But yes, I did before even whilst working (part time). I was slightly over the earning limit so put some for pension which takes you under again

People on benefits just can't win, can they? Spend the money on anything other than sackcloth and ashes and you are lambasted, save it and you are lambasted.

I think of your name is on the account in any way it will come under the new rules about to come in, where it will be reported to UC if over £6k. So you are clearly ok for now.

I always tell myself to not open posts about UC on here because it always does my head in. The responses even when a disabled child is mentioned makes me so angry!

You save for your DD but not your DS even though he gets DLA. I think that is wrong. How will he feel once he's older and knows what you did? Won't he feel you loved him less than your DD? You can save up to £6k for him with no reduction to any benefits he would be entitled to, so no excuse to allocate all money to your DD. Money under £6k would not be taken from him for care or anything else. Sounds like your DD is the favourite.

That's unfair. You know nothing of the OPs sons disability. He may need professional care for the rest of his life which will be paid for, or be cared for by family and not have the opportunity to do uni, have a family, buy a home etc, as opposed to the daughter who will have to make her own way in the world.

That's quite a nasty thing to say. There may be good reasons. maybe op is worried that if she does save for her ds significantly it would prevent him claiming means tested benefits when he leaves education or maybe his disabilities are so severe that he won't have the capacity to ever understand that things are different?

@caringcarer he has about £2.5k in savings

He's severely disabled. He isn't going to wake up one day and start giving the finances an overview

I don't have a favourite. I love my beautiful son just as much. It is probably a 'fiercer' type of love if you want to get down to the details

@ImthatBoleyngirl I have just read your comment about the savings going towards living costs. The money has been gifted and out into savings accounts which can’t be touched until they are older not to mention that all her bills are clearly paid. I’m sure if she was struggling she’d of used it at the point she could. Again who’s business is it to tell her how to use her child’s gifted money. No one’s telling me I have to use the money given to my child on household bills when it’s been ringfenced for my child and it’s their money to do something with and it said child has everything including a warm bed food and clothes who are you telling that it needs to be spent on that when it already clearly isn’t