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Your individual circumstances will affect how much Universal Credit you receive such as how many children you have, your earnings, and how many people you reside with.
And of course your savings can too, as we’ve explained.
Everyone who is accepted on Universal Credit will be entitled to a Standard Allowance â how much you get isn’t affected by whether you’re single or not.
Single and aged under 25: £265.31 per month
Single and aged 25 or over: £334.91 per month
Joint claimants both aged under 25: £416.45 per month
Joint claimants where one is aged 25 or over: £525.72 per month
Once your household allowance is calculated, the DWP will take into account any additional claim elements such as children, housing, or disabilities.
What else can affect how much Universal Credit I get?
How much savings you have isn’t the only thing that could reduce the amount of Universal Credit you get.
If you work while claiming Universal Credit, the more hours you work and the more money you earn, the more your payments will be reduced.
For every £1 you earn your Universal Credit payments reduce by 55p â this is known as the taper rate.
It kicks in once claimants are earning above the Work Allowance, if they are eligible.
You get a Work Allowance if you (or your partner) are responsible for a child or have limited capability for work.
How much it is depends on whether you claim the Housing Costs element of Universal Credit.
The monthly work allowances are:
£344 if you get help with housing costs
£573 if you don’t get help with housing costs
How much you earn and whether you’ll be entitled to Universal Credit payments will depend on your circumstances.
Meanwhile the benefit cap can limit the total amount you can get.
The total amount of benefits you can receive is capped at £20,000 a year outside Greater London if you’re in a relationship or a single parent and your children live with you.
It is £13,400-a-year if you live by yourself.
Inside Greater London, the equivalent thresholds are £23,000 and £15,410.
The monthly amount you get may also be reduced if you are sanctioned.
This is when money is deducted for not attending a job interview, for instance.
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