Limit for savings

Hi, I am confused as to how much savings you are allowed for means tested benefit to be awarded, I have seen the figure of £6000 and £16.000, so which is it please.....Thanks

For means-tested benefits, it works like this.

If you have less than £6000, it does not affect your benefits.

If you have over £16000, you do not get any means-tested benefit.

If you have between £6000 and £16000, you will be deemed to have a notional income from it and this will be deducted from your benefit.

If you are of working age, this figure is £1/week for every £250. If you are of pensionable age, this figure is £1/week for every £500. If you are between 60 and 65, someone else will have to tell you whether it's £250 or £500 that applies, because I've forgotten.

You will see that the notional income bears no relation whatsoever to what income you could actually derive from investing your money.

Jeez - If anyone knows where to get 4% guaranteed after tax please let me know too. That rate is obscene for the the DWP to use.