Pensioners Maximum Savings allowance for income support qualification?

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amh2304
amh2304 Posts: 1 Newbie
in Benefits & tax credits
Hi there,

I have been trawling the government websites but I can't find anywhere what I am after.

Can anyone tell me the maximum amount of savings a retired married couple both over the age of 72 are entitled to have,(as well as ownning and living in their own home, no mortgage) before they can qualify for income support AND Council tax exemption?


Thanks
amh2304

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  • seven-day-weekend
    seven-day-weekend Posts: 36,755 Forumite
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    Up to £6000 they will be eligible for full benefit, between £6000 and £16000 they will be eligible for some (pro-rata) and after £16000 they will not qualify at all.

    Hope this helps.
    (AKA HRH_MUngo)
    Member #10 of £2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
  • bigbill
    bigbill Posts: 928 Forumite
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    Its not about savings its all to do with incomes.

    It would be pension credit anyways and this has no upper savings / capital limit.
  • Eager_Elephant
    Eager_Elephant Posts: 4,714 Forumite
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    The starting amount for Pension Credit (Income Support for people 60+) is £189.?? per week plus any additional premiums if they are receiving Attendance Allowance or Disability Living Allowance.

    You need to add up all the income for both of them and if they have any savings over £6,000 you use a tariff income of £1.00 per £500 or part thereof.

    There is no savings limit for Pension Credit as potentially you can have no income and have £30,000+ in savings and still get Pension Credit.

    Their is a second type of Pension Credit called the Savings Element which is a bit harder to work out but rewards you for private pensions.

    If you are receiving Pension Credit Guarantee (guarantee's income of £189.) then you will automatically qualify for full council tax benefit.
    If you get Pension Credit Savings and have savings of over £16,000 you won't qualify for Council Tax Benefit.

    This is a very basic explanation but can explain in more detail if you want me to.

    EE
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