ESA & SAVINGS
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waterlilly
Community member Posts: 1 Listener
Hi everyone,
Hope someone can help with ESA and amount of savings you can hold.
I have been on ESA (support group) for approximately five years.
My recent annual statement read as follows:
"The payment of Employment and Support Allowance is based on your National Contribution records and any additional amount the law says you need to live on.
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Living Expenses £74.70
Extra money because of the Disability Income Guarantee £17.20
Extra money because you are in the Support Group £39.40
Which give a total income-related amount £131.30
No income will be taken off your Employment and support Allowance
Your income-related amount is £131.30 less total income of £0.00
So your income-related entitlement is £131.30
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From the above, I believe I get Contribution Based ESA with an Income Related entitlement of £17.20 (top-up).
If correct, I am right in saying that, if have more than 6k of savings, then the Income Related entitlement of £17.20 will be affected.
Or, I am wrong and the above is a Income Related ESA and as such any savings over 6K will affect my ESA.
Thank you for input in advance.
Hope someone can help with ESA and amount of savings you can hold.
I have been on ESA (support group) for approximately five years.
My recent annual statement read as follows:
"The payment of Employment and Support Allowance is based on your National Contribution records and any additional amount the law says you need to live on.
---------------------------------------------------------------------------------------------------------------------------
Living Expenses £74.70
Extra money because of the Disability Income Guarantee £17.20
Extra money because you are in the Support Group £39.40
Which give a total income-related amount £131.30
No income will be taken off your Employment and support Allowance
Your income-related amount is £131.30 less total income of £0.00
So your income-related entitlement is £131.30
---------------------------------------------------------------------------------------------------------------------------
From the above, I believe I get Contribution Based ESA with an Income Related entitlement of £17.20 (top-up).
If correct, I am right in saying that, if have more than 6k of savings, then the Income Related entitlement of £17.20 will be affected.
Or, I am wrong and the above is a Income Related ESA and as such any savings over 6K will affect my ESA.
Thank you for input in advance.
Comments
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For IR ESA savings over £6k reduce your ESA, savings over £16k would stop IR ESA.2024 The year of the general election...the time for change is coming 💡
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waterlilly said: From the above, I believe I get Contribution Based ESA with an Income Related entitlement of £17.20 (top-up)...
Or, I am wrong and the above is a Income Related ESA and as such any savings over 6K will affect my ESA.Information I post is for England unless otherwise stated. Rules may be different in other parts of UK. -
Hi @waterlilly - & welcome to the community.To break it down you are entitled to £74.50, but, being in the support group adds an additional £39.40, so adding this to £74.50 brings you to the support group rate of £114.10. Being in the support group, if you're also on income-related ESA, you are entitled to the enhanced disability premium, which is the £17.10 mentioned in your statement. This brings the total to £131.30, which is quoted as being your income-related amount (IR), so it's IR ESA. As you correctly say, with this any income & savings over £6k may affect your ESA. Please see: https://www.gov.uk/employment-support-allowance/what-youll-get You would no longer be eligible for ESA if your savings &/income were over £16k.
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