Employment and Support Allowance (ESA)
If this is your first visit, check out the community guide. You will have to Join us or Sign in before you can post.

Do you think they might increase the lower savings limit?

Like we can technically have £6K before it starts affecting our benefits and £5500 before we have to start declaring it.  Although in reality this means we need to keep it below £5K so that when we get our DWP payment it doesn't go over the limit.  This is such a low amount, especially if you're saving up for something like a treatment or medical device that is not available on the NHS.  For some reason persnioners are allowed £10K before it starts affecting their benefits, which seems like unfair age discrimination to me.  Do you think this lower limit will be raised?  Is anyone interested in writing to their MPs asking for it to be raised?

Replies

  • calcotticalcotti Member Posts: 2,255 Pioneering
    Aella said: Although in reality this means we need to keep it below £5K so that when we get our DWP payment it doesn't go over the limit.  
    That’s not correct. Your benefit payments do not count as capital when they are received. They only become capitalist here is anything leftover at the end of the payment period.
    Aella said: Do you think this lower limit will be raised?  
    The amounts have been unchanged for many years. Logically they should be inflation linked but any change seems very unlikely to me in the near future. 
    Information I post is for England unless otherwise stated. Rules may be different in other parts of UK.
  • woodbinewoodbine Community Co-Production Group Posts: 4,535 Disability Gamechanger
    I first started claiming benefits around 24 years ago, at that time the lower capital limit was £3,000 I can't remember when it was doubled to £6,000, I suspect that increasing it will be well down the list especially when national debt is 99.8% of GDP.
    As for pensioners and their £10,000 limit you are comparing chalk with cheese i'm afraid.
    "Putting a child into care, isn't caring for a child" (T.Rhattigan)
  • mikehughescqmikehughescq Member Posts: 6,646 Disability Gamechanger
    Totally agree. The more likely political option would be an increase in the lower limit and a decrease in the upper limit. 
  • AellaAella Member Posts: 13 Listener
    well, I did write to my MP about it being raised.  The MP for the DWP said that £6K is a "substantial amount" and they have no plans to increase it.
Sign in or join us to comment.