Martin Lewis’ Money Saving Expert (MSE) website is strongly advising those earning £35,000 or less to check eligibility for up to £5,800 from the DWP. The MSE platform highlights a shocking figure of approximately 1.4 million people not claiming an average of £5,800 a year in Universal Credit payments, particularly affecting individuals with earnings under £35,000.
Universal Credit serves as a ‘catch all’ monthly benefit designed to assist those on low or no income with housing and living costs. An average of £5,800 a year in payments is being missed by those with lower incomes.
MSE, led by Martin Lewis, points out that even those with earnings as high as £60,000 might qualify for Universal Credit if they have children or substantial childcare expenses, reports The Express.
On the government’s Universal Credit webpage it states: “You may be able to get Universal Credit if you’re on a low income or need help with your living costs. You could be: out of work, working (including self-employed or part time) or unable to work, for example because of a health condition.”
The UK government specifies that claimants must be over 18, under state pension age and resident in the UK. Your bank account balance, including any savings or investments, should not exceed £16,000.
Couples can still make Universal Credit claims even if one partner has reached the state pension age; however, these payments will cease once both partners attain the state pension age.
If you’re a single earner living alone or sharing a house, you may be eligible for the benefit, and only your income will be considered, not the household income. However, if you live with a partner, the combined household income for both of you will be used to determine the amount of Universal Credit you may be eligible for as a top-up to your household income.
For households with childcare costs and rent, the potential earnings could be as high as £60,000.
According to Martin Lewis’ MSE, “UNIVERSAL CREDIT – 1.4 MILLION miss out on an average of up to £5,800 a year. The catch-all monthly benefit to support those of working age (with low or no income) with living and housing costs. Who’s likely missing out?.
“Households with lower incomes, up to roughly £35,000/yr, though if you’ve kids, high childcare costs and rent, it could be £60,000/yr.”