Savings and Capital

If you have savings or capital of under £16,000 you may be entitled to Housing and/or Council Tax Benefit.

Unless you are aged 60 or over and receive the guaranteed element of Pension Credit, savings over £16,000 usually mean you cannot get Housing or Council Tax Benefit.

When assessing your claim any savings or capital under £6,000 will be disregarded  - in other words we will not take them into account when assessing your claim.

If you are under 60 years old

Any savings or capital above £6,000 will be taken into account when assessing your claim. For every £250 above £6,000 we will add an extra £1 to your existing weekly income.

Example:

You have £7,500 in the bank. When assessing your claim we would translate your savings to an equivalent income of £6 per week

If you are over 60:

For every  £500 above £6,000 we will add an extra £1 to your existing income

Example

You have £7,500 in the bank. When assessing your claim we would translate your savings to an equivalent income of £3 per week