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Universal Credit: Britons could receive a £1,200 savings bonus from the DWP | Personal Finance | Finance


| UPDATED: 15:53, Thu, Mar 11, 2021
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Universal Credit claims have soared over the last year, with the impacts of the pandemic being palpably felt. The Universal Credit sum, overseen by the Department for Work and Pensions (DWP), is intended to provide support to individuals who are on a low income or out of work. To be eligible, one must usually be 18 or over, but under state pension age and resident in the UK. ....

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Universal Credit: Help to Save data shows Covid-19 forced change - eligibility explained


| UPDATED: 14:20, Fri, Feb 26, 2021
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Universal Credit claimants can benefit from a Help to Save account, which allows eligible savers to get a 50p bonus from the Government for every £1 they put away over four years. To qualify for the account, savers must be claiming Universal Credit and have earned £604.56 or more from paid work in their last monthly assessment period. ....

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Universal Credit claimants may be able to get bank account boost worth hundreds


Then, after four years, people who have continued to save will get a final bonus.
This is 50 percent of the difference between the highest balance saved in the first two years (years one and two) and the highest balance saved in the last two years (years three and four).
The most a person can save into the account is £50 per calendar month - so £2,400 over four years.
As such, the most that can be earned in Help to Save bonus money over the four years is £1,200.
Universal Credit is a payment intended to help with living costs (Image: GETTY / EXPRESS) ....

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Universal Credit UK: Claimants may be entitled to a £1,200 tax-free payment - full details | Personal Finance | Finance


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Universal Credit payments can support those who are out of work or who are on a low income, a prevalent circumstance given the ongoing pandemic. The sum is administered by the Department for Work and Pensions (DWP), and is issued to eligible Britons once a month. But for those who are looking for an extra financial boost, there may be a convenient and easy way to obtain this. ....

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