Will savings affect state pension

TraceyB_2

My aunt has received some money back from the tax man - without even asking for it or knowing she was due a rebate :eek: :eek: !!!!

Does anyone know how much you can have in savings before it starts to affect your state pension?

I think the maximum you can have is about £15-16,000 at which stage she loses every help she's getting at the minute but i'm not sure what the minimum is before she starts to lose council tax help etc.

many thanks,

Dora_the_Explorer_5

There's an online calculator here http://www.entitledto.co.uk/

caveat_emptor

TraceyB wrote:

Does anyone know how much you can have in savings before it starts to affect your state pension?
many thanks,

Basic state pension is not affected by savings, but pensions credit and other benefits are affected by both savings and income.
As well as the above go to https://www.thepensionservice.gov.uk for charts.

margaretclare

Yes, I got a rebate a few months ago - a nice little windfall from the taxman! It related to the tax years 2002/3 and 2003/4.

Not expected, just a nice little surprise.

Aunty Margaret