Published On: Thu, Nov 21st, 2019

Universal Credit: What is the benefit cap? Will your payments be affected? | Personal Finance | Finance


Universal Credit is paid monthly, although it can take up to five weeks for the initial payment to be made due to a one-month assessment period and up to seven days for the payment to reach one’s account. The amount that a person gets depends on their circumstances.

What is the benefit cap?

The benefit cap is a limit on the total amount of benefit which a person is able to receive.

It applies to most people who are aged 16 or older, but who are yet to reach state pension age.

In order to ensure a person does not get more than the cap limit, the amount a household gets from some benefits may reduce.

DON’T MISS

What are the benefit cap amounts?

The amount a person gets through the benefit cap will depend on a number of factors, such as whether one lives inside or outside Greater London, if they’re single or in a couple, and for single people, whether their children lives with them or not.

Gov.uk currently details the benefit cap for the different situations. These are:

Outside Greater London

The benefit cap outside Greater London is:

£384.62 per week (£20,000 a year) if you’re in a couple

£384.62 per week (£20,000 a year) if you’re a single parent and your children live with you

£257.69 per week (£13,400 a year) if you’re a single adult

Inside Greater London

The benefit cap inside Greater London is:

£442.31 per week (£23,000 a year) if you’re in a couple

£442.31 per week (£23,000 a year) if you’re a single parent and your children live with you

£296.35 per week (£15,410 a year) if you’re a single adult



Source link

Most Popular News