Redundancy pay 5k does it affect benefits?

spartacusthe1st

As title really!will b getting 5 k will this affect benefits?i thought it was if you have over 6k?
Thanks

patman99

Depends. How much is PILON & how much is pay for service and how much you already have in savings.

LittleVoice

spartacusthe1st wrote: »

As title really!will b getting 5 k will this affect benefits?i thought it was if you have over 6k?
Thanks

It won't affect JSA which would be contribution-based (not income based). Only if you had not found work within 6 months would you need to be assessed on your income (taking account of savings).

What other benefits do you think you might be entitled to?

Shelldean

in our case OH got 7k tax free redundancy and 3k PILON (taxed)

Tax credits were only interested in the taxed money, not interested in the tax free sum. And was told he could've got up 30k tax free and they still wouldn;t use it in their calculations.

For housing benefit/council tax benefit, our council want to know about anything over 6k. HB stops at 16k and between 6 and 16K it works on a sliding scale.

As we had 10K we spoke with council and with their agreement showed proof of our debts and then proof of us using the 10k to reduce these debts. So our HB remains unaffected ( we did it this way to avoid being accused of deprieving ourselves of assets to continue getting HB)

No idea about job seekers as OH managed to get another job and have no break in employment.

HTH