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Savings limit hasn’t changed for decades
- Becky
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2 years 1 month ago #293625 by Becky
Savings limit hasn’t changed for decades was created by Becky
I’m wondering how long the savings limit for means tested benefits has been £6000? I can only find figures going back to 2006, and it was £6000 then. I think it was £6000 long before that. Even £6000 at 2006 levels would be over £10000 now. In 2000 it would now be over £14000. Surely there should be an adjustment for inflation.
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- Chris
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2 years 1 month ago #293630 by Chris
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Chris on topic Savings limit hasn’t changed for decades
Hi Becky,
I totally agree - but can't see it rising anytime soon unfortunately. Maybe's it's worth starting a petition to have it increased to £10,000 - although this would cost the DWP millions more in overpayments with UC I'd imagine.
Chris.
I totally agree - but can't see it rising anytime soon unfortunately. Maybe's it's worth starting a petition to have it increased to £10,000 - although this would cost the DWP millions more in overpayments with UC I'd imagine.
Chris.
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- Phil
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4 days 18 hours ago #315329 by Phil
Replied by Phil on topic Savings limit hasn’t changed for decades
Yes it should be. Because everything so expensive to buy carpets, cookers, fridge freezer, used car etc
Should email MP to ask PM to increase saving limit to £10,000 by now.
Should email MP to ask PM to increase saving limit to £10,000 by now.
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- Andrew
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4 days 7 hours ago #315339 by Andrew
Replied by Andrew on topic Savings limit hasn’t changed for decades
Hi all,
I know this is going to ruffle feathers.....
The £6000 limit has been in place for years, but benefits have increased in line with inflation (the 10% uplift was brilliant).
The limit on savings / assets is there to stop people who are better off claiming benefits as opposed to those who are not better off claiming (who should be claiming).
I know this is going to ruffle feathers.....
The £6000 limit has been in place for years, but benefits have increased in line with inflation (the 10% uplift was brilliant).
The limit on savings / assets is there to stop people who are better off claiming benefits as opposed to those who are not better off claiming (who should be claiming).
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- David
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2 days 16 hours ago #315359 by David
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by David on topic Savings limit hasn’t changed for decades
Hi Andrew
Yes, if the savings limit had gone up with inflation then the lower limit would be £11,280 and the upper limit would be £30,000. This didn't happen as for years the government and the Tory press were portraying Benefits recipients as spongers and near-do-wells as in the program Benefits Street.
David
Yes, if the savings limit had gone up with inflation then the lower limit would be £11,280 and the upper limit would be £30,000. This didn't happen as for years the government and the Tory press were portraying Benefits recipients as spongers and near-do-wells as in the program Benefits Street.
David
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