I am single and a council tenant and wish to enquire how much savings I am allowed before it affects my JSA and housing benifit/council tax benifet?
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If you are on Housing/Council Tax Benefit or income based JSA. You can have upto £6,000 in savings without your benefits being affected. Beyond that you are treated as having £1 or weekly income per additional £250 of savings or part thereof.
So if you have say £7,000 of savings the first £6,000 is ignored leaving £1,000. Each benefit is then reduced by £4 per week (4×250).
This reduction increases until your savings reach £16,000 then they stop completely. More generous rules on occasions for the over 60s
For contribution based JSA ONLY you can have as much capital as you like and this benefit alone is unaffected
Hi
Anything up to and including £6,000 is ignored
anything of £16,000 will stop your benefit
for any savings betewwn these 2 amounts, for every £250 or part of will be taken as £1 per week income.
example £6200 will be assumed as £1 per week income
for evey £1 income will reduce your JSA.
As long as you are still getting JSA, even at a reduced rate due to savings, you will still be entitled to the same amount of Housing and Council tax benefit. JSA(IB) Income Support and Guarantee pension credit all entitle you to the full amount of Housing and Council tax benfit.
If you were working (not on jsa) and getting Housing and Council tax benefit, for evey £1 taken as income from capital 65p is deducted from Housing Benefit and 20p from council tax benefit.
£6000 but you must declare it, and you must say what you are using it for as they may class it as Deprivation of capital , which means you spend it on things that are not nessecery
(£6000 is based on that you are only claiming those benefits, disability benefit and pension credit garantee are different)
I think its around £6000, they will ask for all savings and bank statements to prove u dont have lots of money u cud live on rarther than live off the goverment- my advice wud be to find a job- fast!!
If you have over £6,000 you get less, if you have over £16,000 you won’t qualify at all.
i think its around £8k