Savings And Job Seekers Allowance

Donaway · 4 January 2012 at 2:49PM

How much £ savings are you allowed to have and still be able to claim JSA ?

dseventy · 4 January 2012 at 2:54PM

Contributions based - savngs no effect.

Income based - up to 6K, between 6K and 16K it tapers off to zero.

D70

Donaway · 4 January 2012 at 3:03PM

dseventy wrote: »

Contributions based - savngs no effect.

Income based - up to 6K, between 6K and 16K it tapers off to zero.

D70

I undestand the first part on Contributions based but i do not understand yout answer on Income based , up to 6K and 16K it tapers off to zero , D70

Marisco · 4 January 2012 at 3:08PM

It means that after 26 weeks I think it is, you'll no longer qualify for JSA based on you NI contributions. So JSA will be means tested, when I was on it years back it was called Income Support. So anything over 6k they'll start docking JSA off you, I'm not sure at what rate though, until they get to 16k which means you'll get nothing.

Donaway · 4 January 2012 at 4:14PM

So anything under 6K in savings does not have any effect on your JSA true or false ?

Marisco · 4 January 2012 at 4:49PM

Yes, but do bear in mind that if you have say, 10k and you spend 4k for the purpose of claiming benefit, then deprivation of capital comes into play. If you give some figures, then I'm sure peeps on here will be able to tell you exactly how much will be taken off your JSA.