If you are a low income household and have less than £16k in savings you could be entitled to £500 a month by way of support.
As the cost of living crisis continues, many people will be grateful for any extra income. Many may currently be trying to stretch their income whilst unaware of the support they can receive through Universal Credit.
The Department for Work and Pensions (DWP) can provide vital support to those who need it most as they provide an extra £500 a month to certain households. This extra cash could be vital for families on low income feeling the squeeze, reports The Express.
READ MORE: DWP PIP claimants could get £650 Cost of Living support in new plan
Universal Credit mainly takes into account one’s expenses and income to decide the rate they will receive. To claim, Britons must meet all of the below criteria:
- Live in the UK
- Aged 18 or over
- Under the state pension age
- Have £16,000 or less in money, savings and investments.
Meeting these specific requirements and sticking to one’s claimant commitments could see Britons receiving over £6,000 every year. Claimants living with their partners will need to make a joint claim for the entire household regardless of whether their partner is eligible.
This means that the amount claimants receive is also impacted by their partner’s income and savings. If only one person in a household has reached the state pension age they must still claim Universal Credit as a couple although the claim will stop when both parties reach the state pension age.
EU, EEA or Swiss citizens staying in the UK may need settled or pre-settled status under the EU Settlement Scheme to get Universal Credit. The monthly standard allowance for single people under 25 is currently £265.31, and £334.91 for single people aged 25 and over.
If a person lives with their partner and they are both under 25, the monthly allowance is £416.45 for them both. Couples living together where one or both are 25 or over could be entitled to £525.72 per month at present.
Claimants can get extra amounts depending on their situation. Having children will increase the amount claimants receive. The rate of which depends on circumstances such as when the child or children were born. An additional amount is added for any disabled or severely disabled child regardless of when they were born or how many other children one has.
Millions of households on low incomes can also receive cost-of-living support worth up to £1,350. The new £900 cash support for over eight million eligible means-tested benefits claimants, including people on Universal Credit, Pension Credit and tax credits, starts in the spring and will go directly to bank accounts in three payments, the DWP said.
The £900 payment will be made up of three slightly different amounts, relating to specific qualifying periods, making it simpler to determine if someone has received the correct payments, the department added. There will also be a separate £150 payment for more than six million people with disabilities and £300 for over eight million pensioners on top of their Winter Fuel Payments.
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