Page 1 of 2 12 LastLast
Results 1 to 10 of 17

Thread: Savings Assets means tested

  1. #1
    New Member
    Join Date
    Feb 2013
    Posts
    8

    Savings Assets means tested

    Evening all
    I am a newbie here, have read lots of threads and makes the brain work a bit which cant be bad.
    I have a question that is bothering me some, I live with my partner who does not work and has no income or savings, I am on esa (cb) and have a little savings from 4 decades at work.
    As my 365 days will end and I have savings that would possibly affect chances of getting esa (ir) or limit the amount I could get, my question is if I transfer what savings I have into her name do they look at your partners savings or just there income from any work they may do ?
    What would happen if she got a small amount of interest on that savings would that be classed as income to the household even if its in another name and affect getting esa (ir) ? this small amount is the only thing keeping the wolf from the door.
    Any idea how they look at this situation ? do they just look at my financial state or anyone who lives with me.

  2. #2
    Senior Member
    Join Date
    Apr 2012
    Posts
    801
    They'll ask for household income and savings, bank accounts, possibly statements including those of a partner who lives with you.

    Not sure about ESA IB , but think normally savings over 16,000 means there's no benefit paid until savings drop below 16K

    Savings between , 6000 and 16000 there's a tiered deduction taken from the benefit of £1 for every £250 over the £6000, or £4 per £1000. So would depend on how long normal expenditure from your savings will take for you to drop below the levels allowed. If I've got the figures wrong someone will correct them for you in the morning.

    Other possiblities may be -

    If you fit any of the Support Group descriptors you could lodge an appeal for this, as payment continues for CB ESA in the SG group for as long as you meet the SG criteria?

    Or do you fit any of the criteria for DLA, as that isn't a means tested benefit ?

    How old are you. Are you of an age to be able to claim pension and pension credits instead of ESA ? Don't know much about PC's etc, but other posters will be able to advise further if you meet this..

  3. #3
    Senior Member
    Join Date
    Jan 2012
    Posts
    1,803
    If you are living together and she is not workong with no other income then I'm assuming you are claiming as a couple.

  4. #4
    Senior Member Lighttouch's Avatar
    Join Date
    Mar 2011
    Location
    Manchester
    Posts
    3,800
    Well of you have worked for 40 years you have enough NI Credits towards a full pension.

    Savings - it's per household. If you have more than 16k you probably won't qualify.

    If you took early retirement and get a private pension that is an income and will be taken into account.

    If you find a 'creative way' of hiding your money and they find out the DWP will want all over payments back and you'll lose your reputation when the newspaper prints your photo with the heading 'benefit cheat'.

    However you could reduce your amount by spending money on your home or holidays.

    Like you I have savings and decades of work behind me. I decided not to claim any benefits so I still pay all my own bills from my small pension and savings.

  5. #5
    Account removed
    Guest
    You cannot win, even when your frugal and save. good old governments

  6. #6
    davewhit
    Guest
    Quote Originally Posted by LloydG View Post
    Evening all
    I am a newbie here, have read lots of threads and makes the brain work a bit which cant be bad.
    I have a question that is bothering me some, I live with my partner who does not work and has no income or savings, I am on esa (cb) and have a little savings from 4 decades at work.
    As my 365 days will end and I have savings that would possibly affect chances of getting esa (ir) or limit the amount I could get, my question is if I transfer what savings I have into her name do they look at your partners savings or just there income from any work they may do ?
    What would happen if she got a small amount of interest on that savings would that be classed as income to the household even if its in another name and affect getting esa (ir) ? this small amount is the only thing keeping the wolf from the door.
    Any idea how they look at this situation ? do they just look at my financial state or anyone who lives with me.
    if you try to move savings even spend them they will treat you as if you still have the savings they have a name for this

  7. #7
    Senior Member
    Join Date
    May 2012
    Posts
    1,465
    deprivation of finance or assets its on or t'other

  8. #8
    Senior Member
    Join Date
    Feb 2011
    Posts
    283
    Quote Originally Posted by Lighttouch View Post
    Like you I have savings and decades of work behind me. I decided not to claim any benefits so I still pay all my own bills from my small pension and savings.
    Similar Lightouch and I know come the end of this year when my CBESA is up that I cannot claim any benefits as I`ll be entitled to the square root of nothing

    Of course I could spend some or gift it to my son on the pretence its still mine

  9. #9
    New Member
    Join Date
    Feb 2013
    Posts
    8
    SFU. Savings fall between 6K & 16K so would get hit there.
    Am in wrag(cb) at moment have appealed, if I was lucky enough to get SG hope it would be CB, dont know how long that would last for on CB before they try to put me on IR ???

    W1. No we are NOT claiming as a couple, I am claiming on my own.

    LT. NO pension here only money coming in is wrag(cb) Take your point about "creative way" of hiding money have to weigh up the risk on that one.
    To scared to spend anything unless totally needed as that small amount of savings is all thats keeping the lights on here
    I was taught always to save a pound where ever I can and looks like I should have spent it all on wine, women & song !!!
    But then I never would have thought that we would have ever had a bunch of dreadfull people like cameron/d-smith/grayling/hoban, I thought that after WW2 we would never see the like again, OH how wrong I was.

    T. Yes you appear to be correct, do the wright thing through life then get kicked in the nuts (sorry ladies)

    DW. Crazy cant even spend your own money without being got at !!!!! SM has its name, ever get the feeling there playing with loaded dice

  10. #10
    New Member
    Join Date
    Nov 2010
    Posts
    13
    Another question...........sorry to hijack the thread! I am on contribution based ESA and am in the support group. Have just been reassessed.
    The DWP know about my NHS pension and dock my benefit accordingly.
    If I was to inherit any money would I need to inform them and would I then lose my benefit? I am not on any other benefits.

Similar Threads

  1. Backdated PIP and Means Tested Benefits
    By Slash1975 in forum Benefits - help & advice on disability benefits, incapacity benefits, ESA and DLA
    Replies: 6
    Last Post: 14-11-14, 16:15
  2. Road Tested Grand Picasso Today... Wow!
    By Eddie864 in forum Motoring - help & advice on cars for disabled people, Blue Badge and Motability
    Replies: 8
    Last Post: 11-06-14, 19:37
  3. Means to and end
    By sea queen in forum Benefits - help & advice on disability benefits, incapacity benefits, ESA and DLA
    Replies: 1
    Last Post: 13-06-13, 16:08
  4. Should state pensions be mean tested?
    By ians13770 in forum Benefits - help & advice on disability benefits, incapacity benefits, ESA and DLA
    Replies: 27
    Last Post: 30-04-13, 14:41
  5. is esa means testested
    By Vince in forum Benefits - help & advice on disability benefits, incapacity benefits, ESA and DLA
    Replies: 3
    Last Post: 18-10-12, 16:26

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •