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Benefits v Stocks & Shares
roystree
Posts: 1 Newbie
My Uncle is a pensioner and has been able to top up his pension with the interest and dividends from his savings. As his savings exceeded £16,000 he was unable to claim any form of benefit or state assistance.
His savings included shares with HBOS which until recently were worth around £11,000 but since the present financial crisis have dropped in value so much so that the value of his savings are now well below the £16,000 mark and as a result will hit his dividends to the extent he won't be able to prop up his pension by enough to live without claiming assitance. Can anyone tell me how the benefit office value stocks and shares when it comes to claiming benefit? Do they value them at the beginning of the financial year and if so what happens when the value of the shares go up again which at some time we hope they do.
His savings included shares with HBOS which until recently were worth around £11,000 but since the present financial crisis have dropped in value so much so that the value of his savings are now well below the £16,000 mark and as a result will hit his dividends to the extent he won't be able to prop up his pension by enough to live without claiming assitance. Can anyone tell me how the benefit office value stocks and shares when it comes to claiming benefit? Do they value them at the beginning of the financial year and if so what happens when the value of the shares go up again which at some time we hope they do.
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