How Can I Retire?

deacongoodyear

Hello 

I am a 68 y-o caretaker who is getting more and more tired so I would dearly like to retire.  The problem is that, because I am a caretaker, my home comes with the job and as soon as I retire I lose my home.

I am on the basic Old-Age Pension of £730 a month, with about £15,000 savings, so I'm wondering how I can rent a flat for the remainder of my days with very little income?

Hoping someone can give me tips on how to go forward.

Thanks in advance. 

calcotti

If you are renting you will be able to claim Housing Benefit to help pay with the rent (assuming you can find somewhere) and Council Tax Reduction to help pay with your Council Tax. Both are claimed from your local authority.
Savings over £10.000 will reduce your entitlement (over £16,000 you would not be entitled).
{EDIT: Lower savings limit corrected to £10,000.}

whizzywoo

deacongoodyear said:

Hello 

I am a 68 y-o caretaker who is getting more and more tired so I would dearly like to retire.  The problem is that, because I am a caretaker, my home comes with the job and as soon as I retire I lose my home.

I am on the basic Old-Age Pension of £730 a month, with about £15,000 savings, so I'm wondering how I can rent a flat for the remainder of my days with very little income?

Hoping someone can give me tips on how to go forward.

Thanks in advance. 

Is it just you or are you married or live with a partner?

It's possible that you may qualify for Pension Credit.  Age Concern have a good Benefit Checker you can use.

Do you receive any disability benefits such as DLA, PIP or Attendance Allowance?

If your local council can't help with housing then you could use some of your savings towards a private rental deposit.   Then you could possibly claim housing benefit and council tax reduction. 

Maybe make an appointment to see Citizens Advice to talk you through the various options. 

deacongoodyear

Hello whizzywoo, thanks for you reply.  I am single and live alone, and am still working, hence the reason I still have the company flat, so I'm not on any benefits.  I believe there are a couple of years to wait for council homes where I live.  I will go to Age UK to use their Benefit Checker. Thank you.  

TELLIT01

Are you on the list for a council/housing association property?  If not you need to do so quickly.

whizzywoo

deacongoodyear said:

Hello whizzywoo, thanks for you reply.  I am single and live alone, and am still working, hence the reason I still have the company flat, so I'm not on any benefits.  I believe there are a couple of years to wait for council homes where I live.  I will go to Age UK to use their Benefit Checker. Thank you.  

Do the benefits checker as if you are not earning any wages. 

I'm not sure what you should put in about future possible rent.  I've always owned my home so not up on Housing Benefit.  But I think each council sets the amount of rent they pay depending on age.

I think you definitely need to get advice from a welfare benefits office.  What would happen if you were too ill to work?  Would you lose your job and become homeless?

calcotti

deacongoodyear said:

Hello whizzywoo, thanks for you reply.  I am single and live alone, and am still working, hence the reason I still have the company flat, so I'm not on any benefits.  I believe there are a couple of years to wait for council homes where I live.  I will go to Age UK to use their Benefit Checker. Thank you.  

If your State Pension is more than £182.60/week it is too high for Pension Credit. In your case your threshold will be a bit lower at the moment due to your savings.

Some councils have council properties reserved for the over 55 or higher. However you don't need to be in a council property to get Housing Benefit. It will also help towards a private rental (if you can find a landlord ready to take you). 

whizzywoo said: I'm not sure what you should put in about future possible rent.  I've always owned my home so not up on Housing Benefit.  But I think each council sets the amount of rent they pay depending on age.

Councils do not set the amounts of HB. For council/housing association properties Housing Benefit can cover all of the rent for a one bedroom property (subject to any relevant deductions due to income or capital). For a private rental the maximum amount is fixed by the Local Housing Allowance, the relevant amount can be found here
https://lha-direct.voa.gov.uk/Search.aspx

Robbie64

Some councils and housing associations will also give priority to someone who is about to be made homeless because the accomodation is tied in with the job. It's worth speaking to your local council or HA about this before you retire.

KxMx

You will be able to access HA/Council properties reserved for those in your age group, and your risk of homelessness will also bump you up points wise.

Please don't assume that you'd be waiting years, without talking to them.
The sooner you are on the lists the better, time spent waiting also helps accumulate more points. 

Ms_Chocaholic

Where I live there are always over 55 warden controlled flats (self contained flats) available through the Council so, if you've not done so already, make an application to your local Council and you hopefully might be pleasantly surprised.