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savings threshold for benefits
AlwaysHappy
Posts: 1,506 Forumite
Hello!! Just a quick question - my son is registered disabled and I have heard that the limit for savings before it would mess his benefits is £6000 - which he is nowhere close to (he likes football shirts too much), I have been putting a small amount into a pension for him every month recently though (which he can only access at 60), just wondering if this is taken into account - in which case I'd better stop paying in - or is it just encashables ie policies, accounts, shares, nscs etc.....
Many thanks
Many thanks
I'm not a failure if I don't make it, I'm a success because I :tried!
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Comments
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What benefits does he receive?0
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AlwaysHappy wrote: »I have been putting a small amount into a pension for him every month recently though (which he can only access at 60), just wondering if this is taken into account
I hope someone who is up-to-date with things will confirm (or not) but I'm sure the money in a pension wasn't counted towards the capital limits for means tested benefits.0 -
When you say pension do you mean a private pension?0
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If it's contributions paid into a pension scheme they definitely do not affect benefit entitlement. If he is on ESA the taper starts at £6k, the upper limit (where ESA would cease is £16k, assuming Income Related benefit.0
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