ESA savings
usedtoname
Posts: 16 Forumite
Hi, I've been on the government website looking at what savings someone on ESA is allowed, £6,000 or £16,000 (both amounts are ridiculously large), which is it? I ask because my neighbour is set to receive more than £6,000 as a home loss payment, which she says will be paid directly into her bank account. Any help would be grateful because she worries and I'd like to reassure her.
0
Comments
-
Income related benefits start to be affected when capital reaches £6,000/B
Once someone has capital of £16,000 they are no longer entitled to receive income related benefit.
Between those amounts benefit would be affected by losing £1 in benefit for every £250 in capital over the £6,000]0 -
If you think that having £6k in savings is 'ridiculously large' to be allowed to claim benefits, I wonder how helpful you will be to your neighbour with that attitude.0
-
Thanks Nannytone, that makes things clearer for her.
TELLIT01, I was always of the understanding that you needed benefits because you had nothing.0 -
No, not true. People are allowed to have some savings and claim a means tested benefit as clearly stated in post #2.usedtoname wrote: »Thanks Nannytone, that makes things clearer for her.
TELLIT01, I was always of the understanding that you needed benefits because you had nothing.0 -
usedtoname wrote: »Thanks Nannytone, that makes things clearer for her.
TELLIT01, I was always of the understanding that you needed benefits because you had nothing.
So perhaps you would like to explain why you think that people on benefits shouldn't be allowed to have some modest savings?0 -
So perhaps you would like to explain why you think that people on benefits shouldn't be allowed to have some modest savings?
Perhaps because other countries, such as France, have no problem in adopting a zero tolerance to savings.
£1 in savings means £1 less in benefits for that week.0 -
I certainly wouldn't class £6000-£16000 savings as modest.
My wife and I work full time, are not entitled to any benefits etc and would love to have such modest sums of money at hand.0 -
£6 to £16k isn't that much really. I think it's appropriate that benefits decrease gradually up to £16k.I shot a vein in my neck and coughed up a Quaalude.
Lou Reed The Last Shot0 -
-
I certainly wouldn't class £6000-£16000 savings as modest.
My wife and I work full time, are not entitled to any benefits etc and would love to have such modest sums of money at hand.
Who knows? perhaps someone on benefits get left £5k in a will or wins it on a scratch card
If you agree that 6k-16k is modest (which it is) then why haven't you amassed this small fortune?
I'm just interested in other peoples views before you shoot me down:D0
This discussion has been closed.
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608K Mortgages, Homes & Bills
- 173.1K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards