When do benefits help kick in

newbieoap

My husband and I have just become pensioners. We have only a small pension pot which includes both our state pensions and a small private pension of my husband. At what point do benefits assistance kick in.

pmlindyloo

Put your details into the benefit caculator here:

http://www.moneysavingexpert.com/family/benefits-check

Without details of your circumstances no one will be able to help.

Basically means tested benefits depend on income/savings/capital/age/housing costs/where you live etc etc.

You are probably looking at whether you are entitled to Pension Credit if you have reached State Pension Age and the other benefits that PC gives you access to.

elmer

Pension credit can be backdated 3 months, so apply for it in the next 3 months, so that you receive your full entitlement. I think you have to call them to start a claim

elmer

newbieoap

thanks for the response. Pension pot about £19000. H state pension £643 per month approx. mine £723. His private pension about £480.

stevemLS

You're income is £22,152pa, state pension credit will top your income up to £11,778 for a couple if your income is below that - I doubt very much whether you are eligible for anything.

There is approximately another £1kpa allowed for savings credit, but depends what form your "pension pot" takes - but even then you are way over the threshold.

I don't know about HB and that depends on where you live.

Indie_Kid

stevemLS wrote: »

I don't know about HB and that depends on where you live.

Unlike with working age benefits, there's no cut of as such when it comes to savings. HB would only not be payable if your entitlement is £0.

newbieoap

further to my previous post I realized that it wasn't clear. The £19000 is savings not a yearly pension payment. Am I right in thinking that benefits will only kick in once our savings drop below
£2500. Any information would be gratefully received.

pmlindyloo

newbieoap wrote: »

further to my previous post I realized that it wasn't clear. The £19000 is savings not a yearly pension payment. Am I right in thinking that benefits will only kick in once our savings drop below
£2500. Any information would be gratefully received.

Have you used the calculator in post 2? It is pretty accurate.

With your pensions and savings I doubt very much that you are entitled to any benefits.

McKneff

newbieoap wrote: »

thanks for the response. Pension pot about £19000. H state pension £643 per month approx. mine £723. His private pension about £480.

You have nearly 2 thousand pounds a month coming in and expect benefits ??? or am I missing something here.

Teahfc

McKneff wrote: »

You have nearly 2 thousand pounds a month coming in and expect benefits ??? or am I missing something here.

Yes you are missing the £19,000 savings the OP has

Mojisola

newbieoap wrote: »

further to my previous post I realized that it wasn't clear. The £19000 is savings not a yearly pension payment. Am I right in thinking that benefits will only kick in once our savings drop below £2500. Any information would be gratefully received.

As pensioners, you can get Pension Credit if your savings are under £10k and your weekly income is less than £226.50.