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Best ISA’s for people on benefits
goodbet123
Posts: 1 Newbie
Wondering which ISA’s are best for people on Universal Credit and PIP? (For those who are unable to work).
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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.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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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.1
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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?goodbet123 said:Wondering which ISA’s are best for people on Universal Credit and PIP? (For those who are unable to work).
https://www.moneysavingexpert.com/savings/best-cash-isa/
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Unless you are expecting to pay tax on savings interest an ISA may not be the best product.goodbet123 said:Wondering which ISA’s are best for people on Universal Credit and PIP? (For those who are unable to work).
Have you looked at Help to Save.
https://www.gov.uk/get-help-savings-low-income
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