Would my sister have time to use money from sale of house before it affected her benefits?

2»

Comments

  • poppy123456
    poppy123456 Online Community Member Posts: 64,463 Championing
    edited August 2022
    Karron said:
    Do you mean savings over £10,000 I thought the limit was £16,000?
     Not for those claiming Pension credit.
    However, if her partner is younger than her then the advice of what happens when she reaches state pension age will be different. 
  • calcotti
    calcotti Online Community Member Posts: 10,001 Championing
    Karron said:
    Do you mean savings over £10,000 I thought the limit was £16,000?
    There are two sets of capital rules.
    For working age benefits capital over £6000 reduces benefits and income based benefits are excluded if capital exceeds £16,000.
    For working pension age benefits capital over £10,000 reduces benefits and for Pension Credit there is no upper limit. Unless there is no guarantee PC entitlement there would still be a £16,000 limit for CTR,

Categories