But if you receive means-tested benefits, it's important to understand how having savings can affect your entitlement. Means-tested benefits, such as Universal Credit, Pension Credit and Housing Benefit, are based on your financial circumstances. According to the Government, about 8.4m people in the UK are on Universal Credit and about 1.6m are receiving Housing Benefit (although most working-age claimants have now moved to Universal Credit). If you have between £6,000 and £16,000 in capital, your Universal Credit payment (known as your award) will be reduced. If you have £10,000 or less in savings and capital, it won't affect your Pension Credit entitlement.