Savings limit for married couples

JSmithy45AD

Hi,

My other half is drawing a state pension and I work part time being younger. The savings limits used to be up to £6,000 for single people and up to £10,000 combined for married people and couples. This is for means tested benefits and is the lower limit before it starts to affect income. Is this still the limit as it stands?

Cheers in advance.

pmlindyloo

Do you currently receive any benefits?

calcotti

JSmithy45AD said:

Hi,

My other half is drawing a state pension and I work part time being younger. The savings limits used to be up to £6,000 for single people and up to £10,000 combined for married people and couples. This is for means tested benefits and is the lower limit before it starts to affect income. Is this still the limit as it stands?

Cheers in advance.

You have slightly misunderstood savings limits. For working age people there is a cut off of £16,000 above which means tested benefits cannot be claimed (except Tax Credits). Savings between £6,000 and £16,000 reduce the amount of means tested benefit payable (except tax Credits). Below £6,000 savings are ignored. These limits are the same regardless of whether applying as a single person or as part of a couple.
For pensioners the lower limit is £10,000 for Pension Credit. The upper limit for CTR is £16,000, there is no upper limit for Pension Credit and if guarantee Pension Credit is payable the upper limit for CTR is removed.
In your case, as a mixed age couple, you are treated as working age so the applicable lower limit above which (joint) savings will affect entitlement is £6,000. This would be true for Universal Credit. For Council Tax Reduction local authorities can set their own rules and I think this can affect the savings limit so your local authority scheme may be different.

JSmithy45AD

pmlindyloo said:

Do you currently receive any benefits?

Just (some) rent & council tax rebate, we pay a small amount of each. I think @calcotti has cleared up the confusion I had. I'l have to check my local council. Thank you both.

calcotti

The £6,000 to £16,000 range will apply for Housing Benefit.