Do I have to declare savings in the contribution based ESA?

Purplewitch

Hello. I an having a major panic turn over my esa benefit.  Do I have to declare savings in the contribution based?
Please help me if you can. 

poppy123456

Contributions based ESA is not means tested so savings do not affect it. However, if any part of your ESA is Income Related then for every £250 or part there of over £6,000 there’s £1 deduction. Savings of more than £16,000 and entitlement to all means tested benefits ends.

Purplewitch

I just get contribution based so does that mean I don't have to report saving, is that right 

poppy123456

Are you 100% sure it's just contributions based? Are you in the Support Group? If so then contirbutions based ESA is £117.60/week which is £235.20/fortnight.

Alex_Alumni

Hello @Purplewitch and welcome to the community To help everyone share their thoughts, I've edited the title of your post and moved it over into our ESA category. 

Have we helped to answer your query, or is there anything you're still unsure of?

If you haven't already, please do take a look around the forum. A good place to start is our categories page where you can browse our different topics. You can also get to know other members, chat, and play games in the Coffee Lounge as well. For all the latest conversations, visit recent discussions.

Let us know if anything comes up that you'd like help with.

Alex

Trevurr

I am on 'old ESA' & pip.
originally iwe weren't allowed savings above £8000 i thought, to claim ESA.
 Has it changed now? I don't have as much as this but I'm partially sighted, can't read figures accurately & anxious to know the law. thanks if you can help.

calcotti

Trevurr said:

I am on 'old ESA' & pip.
originally iwe weren't allowed savings above £8000 i thought, to claim ESA.

Savings over £6,000 reduce the income based ESA payable but you are only excluded if savings go over £16,000.

Trevurr

thanks very much for your clear very quick answer.. how typicala Government to reduce the amount you're allowed. you need more than£6000 for some house repairs - well most really.
i suppose my ESA is income related. i was 'written off' as too disabled to work by DWP years ago, without contributions etc. Unfortunately, David Cameron re-assessed everyone on ''disability-for-life'' - wasting public ££ and causing loadsa stress & wasting loadsa time of DWP & 1000s of Drs - every cuppla years. now we've being moved to do a different system, - summat CREDIT - requiring entire new application - anxiety keeping me awake.
 i wonder why the 'New  ESA' dont seem to look at 'savings'? so you could have £1000,000 & still claim NEW ESA? odd. what about the very new post ESA credit thing benefit?
trevurr.
Why dint they just raise thresholda savings from £6/£8000 upwards., keep up wth inflation, spiralling costa repairs, etc?

calcotti

Trevurr said:

..how typicala Government to reduce the amount you're allowed. you need more than£6000 for some house repairs - well most really.

The threshold above which benefits are affected has never, as far as I know, exceeded £6,000. As noted in my earlier reply the absolute limit is £16,000.

You will have to transfer to Universal Credit by the end of 2028, so a few years away yet.

New style ESA is a contribution based benefit and is not means tested which is why it is not affected by savings. It’s the same as the old contribution based ESA.

It is annoying that savings thresholds don’t  get increased. They haven’t changed for many years.

Trevurr

thank you. Will definately try to remember £6000 though with fuel costs increasing - even t'standing charges & other costa living hikes - I can't see my 'saving' one pence, even for 'emergencies'.
 ah, i 'was there' when Edward Heath, Tory PM, installed £10 CHRISTMAS BONUS TO pensioners & disabled in 1960s or '70s. Quite substantial then. now? h'mm...
Trevurr