How much savings are you allowed when applying for JSA?

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  • briona
    briona Posts: 1,454 Forumite
    edited 27 January 2010 at 12:18AM
    unclekevin wrote: »
    I am a bit confused as after reading other websites it seems that if you have anything over £16000 you can not claim JSA. but if your savings are over £6,000 - then they will deduct £1 for every £250.

    So does that mean i will be ok?
    This has already been explained to you. Twice. :wall:

    If you are eligible to claim contributions-based JSA your savings are NOT taken into account! However you can only claim CB JSA for 6 months, after which you apply for income-based JSA.

    If you have not made enough contributions you will have to apply for income-based JSA, for which your savings are taken into account. If you have between £6,000 and £16,000, you will lose £1 of benefits for every £250 or part thereof that you have in savings. If you have more than £16,000 in savings you will not be eligible to claim.
    If I don't respond to your posts, it's probably because you're on my 'Ignore' list.
  • unclekevin
    unclekevin Posts: 75 Forumite
    Ok, it's just that i have a meeting tomorrow at the jobcentre to see if i can claim JSA as i was dismissed from my job for gross misconduct and i will or might get sanctioned, i have worked for the last 11 years
  • briona
    briona Posts: 1,454 Forumite
    unclekevin wrote: »
    Ok, it's just that i have a meeting tomorrow at the jobcentre to see if i can claim JSA as i was dismissed from my job for gross misconduct and i will or might get sanctioned, i have worked for the last 11 years
    As you have been sacked for gross misconduct you will probably face a sanction, which can be anything up to 26 weeks. This would mean that you would not receive any payments for that length of time.
    If I don't respond to your posts, it's probably because you're on my 'Ignore' list.
  • unclekevin
    unclekevin Posts: 75 Forumite
    That i understand, i (think) i can claim for hardship payment, i was just wanting advice regarding savings!
  • Fire_Fox
    Fire_Fox Posts: 26,026 Forumite
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    unclekevin wrote: »
    They had £6000 in an ISA and they wanted another ISA opening in the same tax year so i opened up an ISA in my name and transferred £3000, what do you advise? I am really worried that it will affect me when i go tomorrow to the jobcentre

    Tax evasion?
    Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️
  • sulkisu
    sulkisu Posts: 1,285 Forumite
    unclekevin wrote: »
    That i understand, i (think) i can claim for hardship payment, i was just wanting advice regarding savings!

    If you are sanctioned as a result of being sacked for gross misconduct, I doubt that you will be able to claim hardship - besides you have savings, so surely you won't be suffering?
  • seven-day-weekend
    seven-day-weekend Posts: 36,755 Forumite
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    edited 27 January 2010 at 1:41PM
    Why on earth do people have 'other people's' money in their names? It belongs to whosever name is on the account for Benefits purposes.

    You could tell them it 'belonged to' Joe Bloggs, Gordon Brown, the cat or HM the Queen it would still have your name on!

    I could apply for means-tested Benefits anfd tell them all my savings belong to my son, regardless of the fact they have my name on. Anyone could wriggle out of the savings limit that way. (Not saying the OP is trying to do this).
    (AKA HRH_MUngo)
    Member #10 of £2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
  • viktory
    viktory Posts: 7,635 Forumite
    unclekevin wrote: »
    That i understand, i (think) i can claim for hardship payment, i was just wanting advice regarding savings!

    Why would you claim hardship when you have £11k in savings?
  • karenx
    karenx Posts: 4,988 Forumite
    unclekevin wrote: »
    That i understand, i (think) i can claim for hardship payment, i was just wanting advice regarding savings!

    Why on earth would the government give you a hardship payment when you were sacked from your job and you have 11k sitting in your bank account........
  • unclekevin
    unclekevin Posts: 75 Forumite
    karenx wrote: »
    Why on earth would the government give you a hardship payment when you were sacked from your job and you have 11k sitting in your bank account........

    Dont judge me because i have got savings, it's not my fault that for the last 19 years i've been working and have paid taxes, at a young age i was educated to save money and not to waste it, why is it that most posts criticize you when you simple want advice?
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