- Posts: 11
× Members
Savings and housing benefit
- Shep66
- Topic Author
- Offline
Less More
4 years 3 weeks ago #258284 by Shep66
Savings and housing benefit was created by Shep66
Hi, I would like to ask about how much savings you are entitled to have one claiming housing benefit. I live with my brother who is on lifetime benefits due to autism learning difficulties. I have mental health problems and a neurological condition. I’ve read that it’s £6000 that you’re entitled to and still claim housing benefit. As we live together but we’re not a couple does that mean we can have £6000 each.
Please Log in or Create an account to join the conversation.
- Gary
- Offline
Less More
- Posts: 8436
4 years 3 weeks ago #258301 by Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gary on topic Savings and housing benefit
Hi shep66
I cannot give you a definitive answer as I do not have enough information.
The answer to your question is yes.
Most means-tested benefits are only paid to people with less than £16,000 in savings (tax credits and the guarantee element of Pension Credit are not affected by this rule).
If you are over Pension Credit age the government assumes you receive £1 per week for every bundle or part bundle of £500 of capital you have above £10,000. i.e If you had 10,510.00 then you would loose £2.00 in tariff income.
If you are under Pension Credit age and have total capital over £6,000 then the government assumes you receive £1 per week for every bundle or part bundle of £250 of capital you have above £6,000. i.e If you had £6,260.00 in savings then you would loose £2.00 in tariff income
Gary
I cannot give you a definitive answer as I do not have enough information.
The answer to your question is yes.
Most means-tested benefits are only paid to people with less than £16,000 in savings (tax credits and the guarantee element of Pension Credit are not affected by this rule).
If you are over Pension Credit age the government assumes you receive £1 per week for every bundle or part bundle of £500 of capital you have above £10,000. i.e If you had 10,510.00 then you would loose £2.00 in tariff income.
If you are under Pension Credit age and have total capital over £6,000 then the government assumes you receive £1 per week for every bundle or part bundle of £250 of capital you have above £6,000. i.e If you had £6,260.00 in savings then you would loose £2.00 in tariff income
Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Please Log in or Create an account to join the conversation.
- Shep66
- Topic Author
- Offline
Less More
- Posts: 11
4 years 3 weeks ago #258310 by Shep66
Replied by Shep66 on topic Savings and housing benefit
Thank you Gary, we are both under 60, and both get pip. I asked because, we are of course not a couple, but live together. So if we both had 6, 000 each and stick to that we should be ok.
Please Log in or Create an account to join the conversation.
- Gary
- Offline
Less More
- Posts: 8436
4 years 2 weeks ago #258350 by Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gary on topic Savings and housing benefit
Hi shep66
Yes you are correct, to be on the safe side, you need to be under £6,000 in savings each, if you had £6,000.01 in savings then you would be affected by £1.00 tariff income.
Make sure you are claiming all your premiums, I come across many claimants who qualify for SDP but have not been paid it. You may want to contact your local welfare rights organisation to check that you and your brother are receiving all your premiums with your benefits.
You can find your local Welfare Rights Organisation to help you with benefit advice by clicking on the link below and putting in your post code, it will then come up with a MAP with a list of agencies. advicelocal.uk
Gary
Yes you are correct, to be on the safe side, you need to be under £6,000 in savings each, if you had £6,000.01 in savings then you would be affected by £1.00 tariff income.
Make sure you are claiming all your premiums, I come across many claimants who qualify for SDP but have not been paid it. You may want to contact your local welfare rights organisation to check that you and your brother are receiving all your premiums with your benefits.
You can find your local Welfare Rights Organisation to help you with benefit advice by clicking on the link below and putting in your post code, it will then come up with a MAP with a list of agencies. advicelocal.uk
Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Please Log in or Create an account to join the conversation.
Moderators: Gordon, Gary, BIS, Catherine, Wendy, Kelly, greekqueen, peter, Katherine, Super User, Chris, David