I have savings over £6k (but under £16k) which will obviously affect the level of UC I am awarded:
(1) if, during the course of the future time in which I remain on UC, my level of savings fluctuates significantly, will the amount of UC I am entitled to be re-calculated - and if so, how would this happen? Would I have to request recalculation? For instance, if in the future my savings deplete to a much lower level than they are at currently, can my UC then be increased?
(2) however, if it is, would this then simply be deducted pound-for-pound from any Transitional Protection I have been awarded?
(3) would there be any other consequences to a recalculation happening?
I would inform the DWP if the savings increase or decrease by more than £250. Any increase in the UC standard amount is usually deducted from the Transitional Element. I don't have time to answer hypothetical questions but of course there may be consequences such as with NHS charges and reimbursements.
David
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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