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Universal Credit 16k+ savings transistional protection?
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I may have misunderstood but I believe that any pension amount does count as assets for Universal Credit, so if you have 16k in a pension fund (per household) you would be ineligible for any UC?0
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No, it does not.nigandjules wrote: »I may have misunderstood but I believe that any pension amount does count as assets for Universal Credit, so if you have 16k in a pension fund (per household) you would be ineligible for any UC?
However - money in a bank account or investment 'for my retirement' - does count, even if you call it your pension.
It has to be actually in a formal pension in order not to count.0 -
Love the way that someone in their 60s on benefits is fantasising about getting a mortgage! I think Andy's main experience of property ownership is repossession.
My parents got a mortgage just before Christmas, and they are both in their 60s. The only benefits they are on are the universal ones for their age group, but it can be done. 4 months before that, they got a different mortgage in relation to buying a share of a freehold in a block where they own a flat.
LIke a lot of bank loans, though, I think they could only get it because they could prove they didn't need it.......much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
Blimey, you can barely get a shed for that amount around here......:eek:
London prices really are insane.
Lin
Yup - shed or garage, that's what £108k would buy you where we live. You'd need 3 x that amount for a studio flat....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0
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