Can universal credit check how much savings I have?

[JoanWilder1]

Do I have to declare the amount of savings I have or does universal credit just check them every month?

They check things out, they knew when I had been out of the country, where I had been and for how long they even knew I things that I wouldn’t have thought they would check and I don’t even get UC!

If savings go over 16k your Uc claim would cease. If savings go up or down then I think people are expected to report it monthly if needed as it is based on circumstances at the end of your assessment period. I have seen messages on people's UC journals recently asking them to confirm that savings have not changed. It will be in your' to do' list on the journal.

DWP has entire fraud departments with thousands of staff employed to investigate crimes like this. I’m not going to write a step by step guide on how to dupe them by providing specifics, but they check claims for undeclared assets every day and people can be arrested or declared ineligible (meaning they need to repay all their UC paid with a fraudulent declaration).

I give benefits advice. During the pandemic when people were losing their jobs/businesses they would ask what they were entitled to claim. When asked about savings some might say “x thousands, but that’s my house deposit” or “that’s for my wedding next year” and it was difficult to tell them that it doesn’t work like that and they would have to dip into those savings before they could claim benefits. Now I don’t know if they did in fact go on to claim but if they did so it was knowing the risk

No-one saves when on UC!!

Clearly they do, dps ex has saved loads since getting UC and has told us so.

Some save. My friend and her fiance get UC top up but as she gets a large cms payment monthly which isn't taken into account they save all the UC over 600 month she outright tells me. She's entitled to it. Her and her fiancé's wages are submitted and correct, and that's what she gets

Nothing stops claimants lying, just like nothing stops you lying about anything either

Most people, including benefits claimants, are honest.

They definitely do carry out checks, both random and also ones because they suspect fraud. I don’t know the ins and outs but my younger sister did some work experience with them a few years ago and told us. She didn’t get to see much of the work in the fraud department but they explained what they did and told her that they use evidence such as credit reports, bank statements and cross referencing from other places.

The DWP are starting to do a lot of compliance checks and investigations with HMRC and bank accounts, 3 of my relatives have been called in for these checks since November last year and their accounts were accessed (these were random checks they had no evidence). Because off all the COVID Fraud that went on with UC they are starting to get more proactive with these fraud investigations. One of my relatives was caught with savings and they have been banned from claiming UC for 3 years. Remember if you get caught they can make you pay it back, prosecute you and even ban you from claiming benefits altogether for quite a few years. I've heard a lot of compliance checks are being done lately completely random.

So if the savings amount to more than £6k then yes it needs to be declared as the UC award will be reduced. There is a taper up to £16k - anything more than £16k kills the UC claim altogether

They can do checks if there are reports of fraud etc.

I know someone years ago who did not inform UC of their savings (not huge amount, over 6k) I dont believe they got found out. But I think its different now with the checks so not worth it.

It really discourages saving. How are you ever expected to save a deposit for a house if you are working for example ?
And the saving threshold has not altered in years, why does it never go up?

The universal credit system and the tax system rely on people being honest (with the incentive to be honest being penalties if your not) otherwise the systems would be too expensive to run if they checked every little thing for all. They do random checks and if you are found it be lying it’s not just a case of paying back the extra money you claimed you’ll also get charged a penalty on top and potentially have a fraud charge brought against you and it will effect your future entitlement to legally claim benefits. For most it’s just not worth the risk

They have to draw the line somewhere otherwise it would be just like the old tax credits system where you could have any amount in savings and still receive payments because it's based on earnings only. 16k upper threshold is fairly reasonable.

Do childrens bank accounts have to be declared also?

Only if parents have access to them I think. If it is something like a junior ISA in the childs name then I don't think that counts.

The point in benefits is that you get enough to allow you to live healthily. They're not there to help you save for a house deposit.

Agreed, if people could save and buy they could then come of housing benefit etc. I don't see why savings should come into it.

A credit check could show up what accounts you have.

My ds has 30k in premium bonds, would I need to declare those to UC?