esa and savings allowed

[Dublinboy]

Hi,going through incapacity to esa at the moment, Can anybody tell me what savings are allowed,I am married but my doesn't work ? thanks

[Nystagmite]

You can have up to £16k in savings. But anything above £6k, your benefits will be reduced.

[Dublinboy]

I read a thread if you are over 60 years old,which I am it was £10K before they started to reduce up to £16K.is that correct ,Thanks

[**Margaret**]

:Dublinboy:

 

Such a simple question:?: With several different answers:dizzy:

 

For so long as circumstances remain unchanged, savings don't affect a conversion award of employment n support (from incapacity benefit, with or without adult dependency increase) that's based entirely on national insurance contributions.

 

For an income related, or partially income related, award of employment n support the savings limit is £16,000. For every £250, or part of, over £6,000 Jobcentreplus assume an income of £1 per week which is deducted from income related entitlement.

 

Unless the claimant lives in a care home, when Jobcentreplus assume an income of £1 per week for every £250, or part of, over £10,000. The savings limit is still £16,000.

 

A claimant who's reached the qualifying age for pension credit can claim it as an alternative to income related employment n support. For every £500, or part of, savings above £10,000 the Pension Service assume an income of £1 per week. There's no upper savings limit.

 

Qualifying ages for state pension credit can be calculated at;

 

https://www.gov.uk/calculate-state-pension

Margaret.