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Savings level for pensioners

Last post Mon, Aug 13 2007, 4:56 PM by conmankiller. 7 replies.
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  •  Mon, Aug 13 2007, 4:56 PM

    Re: Savings level for pensioners

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    simitra:For people over 65 I believe that they can have upto 6K in savings before it affects benefits!

    True, but that is the means tested limit for income support, if they receive guaranteed pension credit, there is no upper limit on the savings they can have, regarding housing benefit or council tax.

    If not on pension credit, then savings above £16,000 will affect HB & CTB

     
    • Post Points: 5

  •  Mon, Aug 13 2007, 4:50 PM

    Re: Savings level for pensioners

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    For people over 65 I believe that they can have upto 6K in savings before it affects benefits!
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  •  Sat, Aug 04 2007, 12:08 PM

    Re: Savings level for pensioners

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    Thanks for your help, both of you. This really is a great site.
    • Post Points: 5

  •  Thu, Aug 02 2007, 11:14 AM

    Re: Savings level for pensioners

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    No problem - stick around and join in some more!!
    • Post Points: 20

  •  Thu, Aug 02 2007, 11:14 AM

    Re: Savings level for pensioners

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    This may further help from age concern.

     

    http://www.ageconcern.org

    .uk/AgeConcern/fs17.asp
    • Post Points: 5

  •  Thu, Aug 02 2007, 11:02 AM

    Re: Savings level for pensioners

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    Thanks for your reply!
    • Post Points: 35

  •  Thu, Aug 02 2007, 10:32 AM

    Re: Savings level for pensioners

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    Any leaflet on benefits usually quotes the savings threshold for that benefit.  Last I heard it was £3k but I am certain it will have increased since then.  You just need to go to a Job centre or benefits office and ask; you needn't say on whose behalf you are asking.

     

    Cat
    • Post Points: 20

  •  Thu, Aug 02 2007, 10:24 AM

    Savings level for pensioners

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    My Grandad is 87 years old and currently receives benefit money which goes towards his housing and council tax. He also has some savings which he is building up slowly. My question is, how much money is he allowed in savings before his benefits are stopped, as obviously the amount he is saving isn't as much as he is receiving. I presume there is a threshold somewhere. Do you know how much? Or do you know who I could ask?

     Thanks in advance!
    • Post Points: 35