Savings threshold
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Stickman
Community member Posts: 110 Pioneering
Hi
Just a quick question, Has the lower tier of savings - £6000 been scrapped?. Is it just over £10,000 now?
Comments
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No its still £6,000 once you get near that you must inform the DWP. The higher limit is £16,000 still as well.2024 The year of the general election...the time for change is coming 💡
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OK, thanks.
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Hi,The £10,000 is for those claiming pension credit and there's no upper limit, there's a deduction for every £500 over that amount. https://www.moneyadviceservice.org.uk/en/articles/how-do-savings-and-lump-sum-pay-outs-affect-benefits
I would appreciate it if members wouldn't tag me please. I have all notifcations turned off and wouldn't want a member thinking i'm being rude by not replying.If i see a question that i know the answer to i will try my best to help. -
I hope the above information has been helpful @Stickman
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