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JSA and Savings in a SIPP

willhay99
willhay99 Posts: 8 Forumite
in Benefits & tax credits
I believe if you have more than £16k in savings you can't claim JSA. If those savings were moved to a SIPP would you be able to claim JSA?

Also would redundancy payments exceeding £16k affect your ability to claim JSA?

Thanks

Comments

  • jacques_chirac
    jacques_chirac Posts: 2,825 Forumite
    If you have been in regular employment for the past few years, you would be entitled to non means tested JSA.

    If you are only entitled to means tested JSA, having £16,000 in capital would mean you received no payment. Moving the money in order to claim benefits would be treated as intentional deprivation of capital, and you would be treated as if you still had the money.
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