Universal Credit and Savings

[LittleBoSqueak]

I know there is a universal credit calculator but I can't use it because my internet provider says its involved in scams/virus and has blocked it.

I have a large amount of child maintenance saved because my ex had a very well paid job and because of dv/ea etc I lived on as little as I could to save as much as possible because it was clear he would stop paying (which he has).

Under the new system you can only have savings up to 16,000. My question is do you get nothing if you have more? The savings are in my childrens name.

As far as I know,if you have accessible savings over 16k you will not get Universal Credit.

But it may depend on what type of account the savings are in. E.g. a savings account where you are a named signatory. That may be counted as your money as you can withdraw it.

If the money is in something like a child trust fund so you have no way of getting it out and it goes to the children when they are older, it should not be counted as your savings.

The situation will be complicated if you are already in receipt of a benefit. You may be accused of depriving yourself of capital if you suddenly move accessible money to CTFs.

Try the MSE website for further advice as I am no expert. Just going off what I have read and past experience.

Thankyou Ms for replying.

I am not on any benefit except tax credits.