How much savings you are allowed before it effects benefits for the over 60's???

littleragdoll

damonflash wrote: »

Hopefully somebody can help as I’ve trawled the internet to no avail, the situation:
Mum & Dad both over 60,
Mum already on state pension due to having to retire early down to illness.
Dad made redundant and been told he is entitled to various benefits – Council Tax, Council Rent & Pension i think.

Basically they need to know how much savings they are allowed before it either effects these entitlements or makes them something their actually not entitled too.

My Mum's really paranoid that she'll get sent down if they don't get this right....

Hi there, I phoned DWP just yesterday about this very subject and to ask their advice. Your parents are allowed £10,000 savings they don't count but DWP will take £1 in every £500 (they assume you would earn this in interest) up to £16,000.

Because I am a newbie here I am not allowed to attach links yet but you can find lots of advice about pension credit on the Age Concern site.

happy_lass

damonflash wrote: »

Hopefully somebody can help as I’ve trawled the internet to no avail, the situation:
Mum & Dad both over 60,
Mum already on state pension due to having to retire early down to illness.
Dad made redundant and been told he is entitled to various benefits – Council Tax, Council Rent & Pension i think.

Basically they need to know how much savings they are allowed before it either effects these entitlements or makes them something their actually not entitled too.

My Mum's really paranoid that she'll get sent down if they don't get this right....

have you tried calling the benefits enquiry line ? 0800 882 200. They might be able to help you.