The catch all benefit is designed to support people of working age with low or no income with living and housing costs – and millions are missing out
Money Saving Expert (MSE) founder Martin Lewis is highlighting a potential £5,800 windfall from the Department for Work and Pensions (DWP) for those earning under £35,000.
The MSE website reveals an astonishing 1.4 million individuals could be losing out on around £5,800 annually in Universal Credit, particularly those with an income below £35,000. Designed as a ‘catch all’ monthly support, Universal Credit aims to help those on low or no incomes manage their housing and living expenses.
An average of £5,800 a year in benefits remains unclaimed by low-income earners, according to the site. But, Martin Lewis’ Money Saving Expert points out that even earners up to £60,000 could be entitled to some Universal Credit support if they have dependants or high childcare costs, reports the Express.
According to the official Universal Credit website: “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 eligibility criteria set by the government require claimants to reside in the UK, be at least 18 years old but below the state pension age, and to have savings or investments totalling less than £16,000. For couples where one partner has reached the state pension age, a Universal Credit claim is still viable, though these payments will cease once both partners are of state pension age.
You’re eligible to claim the benefit as a single earner living alone, or if you’re residing with others in a house share or flat share scenario. In these instances, only your income will be considered for the benefit, not the ‘household income’.
But if you’re cohabiting with a partner, such as a girlfriend/boyfriend or wife/husband, it’s the combined household income that will be used to determine what you might receive on Universal Credit as an addition to your household income.
For those burdened with childcare costs and rent, the potential earnings could reach up to £60,000. Martin Lewis’ MSE stated: “UNIVERSAL CREDIT – 1.4 MILLION miss out on an average of up to £5,800 a year.”
He further explained: “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.”
