Savings and Incapacity benafit

maquis

Hey, I am owed some money and its being payed back (£10k)
how much can I have before the government will want to take my
Incapacity
benefit from me?
I need to know and soon can someone tell me to the last quid?

Wicked_witch

I think it will depend on whether your IB is contributions based or income based. If it is income based, or if you are on any other income based benefits it will effect those. If contribution based, it won't affect IB but will still affect income based stuff. Someone else will be able to give you better numbers, but I doubt anyone can do so to the last pound unless you are prepared to post all your income and its sources.

pmlindyloo

Incapacity Benefit is contribution based and is not means tested. Therefore savings will not make any difference.

However, some people on IB get an income based 'top up' so, as said previously, you need to look at your award letter and see how much you are getting and whether you have an income based 'top up' which would be affected by any savings.

[Deleted User]

any means tested benefits will be affected once you have £6000 in savings,above that figure you lose £1 for every £250,when you have £16000 in savings any means tested benefits end

Icequeen99

woodbine wrote: »

any means tested benefits will be affected once you have £6000 in savings,above that figure you lose £1 for every £250,when you have £16000 in savings any means tested benefits end

For means-tested benefits, but IB isn't - it is a contribution based benefit.

As PML said it depends on if he is on IB, has been transferred to ESA or is getting any sort of top-up.

IQ

Wicked_witch

yes, I got mixed up between IB and ESA- probably because my husband in is the process of being transferred! Sorry!

[Deleted User]

Icequeen99 wrote: »

For means-tested benefits, but IB isn't - it is a contribution based benefit.

As PML said it depends on if he is on IB, has been transferred to ESA or is getting any sort of top-up.

IQ

forgive me !!!!!! i was just giving the figures which MIGHT help other people !

maquis

hey guys thanks for the replies, it is benefit based not income, so i'm looking to blow 4k cool thanks :T:T:T

Wicked_witch

Reading comprehension, lol.