jsa allowance entitlement

thebanterpanther

hi, i'm new here so please be gentle, ha ha.

basically i have been unemployed for around six months now, since dropping out of full time education. in the meantime i've been doing voluntary work, but now after much 'soul searching' i've decided i 'wish' to sign on as i need some money and can't get a job for love nor money.

anyway my question is how much am i entitled to? i have £5,262.21 in a post office loyalty bond, i assume i declare this?, £2,116.28 in my current account, and £633.20 in a nationwide savings account. all of which totals up to 8[SIZE=-2] [/SIZE]011.69. now i am aware that any savings of over £6,000 means a deduction in my weekly rate, so i am just wondering how much i will receive a week given my savings. any info and advice will be very much appreciated.

thank you.

tameside

Sorry, I can't answer exactly how much, if anything, you will receive.

You are eligible to sign for JSA because you are actively seeking employment. My advice is to make a claim and let the benefit centre work out your entitlement.

Good Luck.

creditcardhelp11

If the savings are the only thing that will effect your jsa ib applicable amount then the benefit would be reduced by £1 for every £250 Or part thereof above £6000.

bigbill

£58.50 weekly

dookar

bigbill wrote: »

£58.50 weekly

or £44.45?

Elvisia

£8011 minus £6000 allowance is £2011, which is 8 lots of £250. You lose £1 for each £250, which is therefore £8 a week you'd lose. So providing you're on the main whack of £67.50 a week that would leave you with £59.50.

dookar

Elvisia wrote: »

£8011 minus £6000 allowance is £2011, which is 8 lots of £250. You lose £1 for each £250, which is therefore £8 a week you'd lose. So providing you're on the main whack of £67.50 a week that would leave you with £59.50.

9 lots of £250

creditcardhelp11

If it was only savings and it was JSA-IB and the claimant was single then:
8011 - 6000 = 2011, 2011/250 = 8.044 so always rounded up to next whole number = £9 tariff income (as it's per £250 or part thereof)

So if aged under 25:
£53.45 - £9.00 = £44.45

And if aged 25 or over:
£67.50 - £9.00 = £58.50

Though, there could be premiums i.e. if disabled or a carer which would increase the applicable amount.

Also, you may be able to spend some savings i.e. for debts or household items though it could be still counted as notional capital i.e. if the dwp think you deprived yourself of the capital just to get more benefit. If spending keep receipts.

thebanterpanther

creditcardhelp11 wrote: »

If it was only savings and it was JSA-IB and the claimant was single then:
8011 - 6000 = 2011, 2011/250 = 8.044 so always rounded up to next whole number = £9 tariff income (as it's per £250 or part thereof)

So if aged under 25:
£53.45 - £9.00 = £44.45

And if aged 25 or over:
£67.50 - £9.00 = £58.50

Though, there could be premiums i.e. if disabled or a carer which would increase the applicable amount.

Also, you may be able to spend some savings i.e. for debts or household items though it could be still counted as notional capital i.e. if the dwp think you deprived yourself of the capital just to get more benefit. If spending keep receipts.

this is correct. i rang them this morning and they confirmed this. i know i'm moaning but how exactly can what i have in my current account be classed as 'savings'? it's a current account !!!!!!. as in i need it to pay bills/run a car/food shopping/etc. it isn't savings as i use it on a daily basis for necessities..in my opinion what's in your current account should be irrelevant.

anyway i'm getting to a stage where i now 'need' to claim, i don't wish to sound 'snobby' but i always said that claiming JSA really would only be a 'last resort'. and beggars literally can't be choosers. thanks for your advice and help, much appreciated.

cheers.

HappyMJ

thebanterpanther wrote: »

this is correct. i rang them this morning and they confirmed this. i know i'm moaning but how exactly can what i have in my current account be classed as 'savings'? it's a current account !!!!!!. as in i need it to pay bills/run a car/food shopping/etc. it isn't savings as i use it on a daily basis for necessities..in my opinion what's in your current account should be irrelevant.

anyway i'm getting to a stage where i now 'need' to claim, i don't wish to sound 'snobby' but i always said that claiming JSA really would only be a 'last resort'. and beggars literally can't be choosers. thanks for your advice and help, much appreciated.

cheers.

Then use it to pay your bills in advance so it longer counts. If you insurance is up for renewal pay the whole annual premium instead of monthly. Same goes with every other expense you have.

Torry_Quine

thebanterpanther wrote: »

this is correct. i rang them this morning and they confirmed this. i know i'm moaning but how exactly can what i have in my current account be classed as 'savings'? it's a current account !!!!!!. as in i need it to pay bills/run a car/food shopping/etc. it isn't savings as i use it on a daily basis for necessities..in my opinion what's in your current account should be irrelevant.

anyway i'm getting to a stage where i now 'need' to claim, i don't wish to sound 'snobby' but i always said that claiming JSA really would only be a 'last resort'. and beggars literally can't be choosers. thanks for your advice and help, much appreciated.

cheers.

Using your logic you could have many thousands of pounds in your current account but it wouldn't be counted.