Martin Lewis urged households earning under £40,000 to act now and avoid losing the money they are owed.
MoneySavingExpert has warned that many people are missing out on extra cash through Universal Credit because they didn’t know they were eligible.
Mr Lewis urged any household earning under £40,000 to use a free-to-use benefits calculator to find out if they are missing out on financial support.
Giving evidence to the Digital, Culture, Media and Sport (DCMS) subcommittee, Mr Lewis said: “My rule of thumb is that if you have a family income of less than £40,000 then you should check the benefits calculator to see if you are eligible to Universal Credit.’
It’s not the first time he’s called on people to take action on the problem.
Speaking previously on ITV’s The Martin Lewis Money Show, he said: “There are up to seven million of you who are eligible and who are missing out.
“I’m not saying, repeat that you’ll get it.
“I’m saying it’s definitely worth taking 10 minutes of your time to go to an online benefits calculator – there are quite a few – and it should take about 10 minutes to enter all your details to see if you’re owed .
“Remember that benefits are not just for those out of work. 40% of those on Universal Credit are in work.’
Government guidance reads: “You may be able to get Universal Credit if you are on a low income or need help with your living costs. You can be:
- did not work
- work (including self-employed or part-time)
- unable to work, for example due to a health condition
To claim you must:
- I live in the UK
- be 18 years of age or older (there are some exceptions if you are 16 to 17 years old)
- be under the state pension age
- have £16,000 or less in cash, savings and investments.’
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