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Best ISA’s for people on benefits

Wondering which ISA’s are best for people on Universal Credit and PIP? (For those who are unable to work). 

Comments

  • Brie
    Brie Posts: 13,480 Ambassador
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    I wonder if having more than £6k in an ISA would count against you as excessive savings for your UC.  Best to check on that first.
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  • dunstonh
    dunstonh Posts: 118,592 Forumite
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    Being on benefits does not impact in the selection of an ISA provider.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • eskbanker
    eskbanker Posts: 35,331 Forumite
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    Wondering which ISA’s are best for people on Universal Credit and PIP? (For those who are unable to work). 
    Not sure that people in that situation are any different from anyone else in terms of which accounts to use, is there anything in particular you think might make a difference?

    https://www.moneysavingexpert.com/savings/best-cash-isa/
  • fuzzzzy
    fuzzzzy Posts: 85 Forumite
    Fourth Anniversary 10 Posts Name Dropper
    Wondering which ISA’s are best for people on Universal Credit and PIP? (For those who are unable to work). 
    Unless you are expecting to pay tax on savings interest an ISA may not be the best product.

    Have you looked at Help to Save.

    https://www.gov.uk/get-help-savings-low-income

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