What happens if I have savings or capital?
The Government regulations say that if you (and your partner if you are a couple) have savings or capital of more than £16,000, you cannot get Housing Benefit, unless you are over the qualifying age for state pension credit and receive Guarantee Credit.
If you and your partner are under the qualifying age for state pension credit and have £6,000 or less, it will not affect your claim.
If you have between £6,000 and £16,000, it affects how much Housing Benefit you will get. For every £250 (or part of £250) you have over £6,000, we add £1.00 to the money we count each week when working out your benefit.
We do not count any actual interest you get from savings and capital.
If you or your partner are over the qualifying age for state pension credit and have £10,000 or less, it will not affect your claim.
If you have between £10,000 and £16,000, it affects how much Housing Benefit you will get. For every £500 (or part of £500) you have over £10,000, we add £1.00 to the money we count each week when working out your benefit.
We do not count any actual interest you get from savings and capital.
CONTACTS
Benefits
Cotswold District Council, Trinity Road, Cirencester, Gloucestershire, GL7 1PX
Telephone: 01285 623 035
Fax: 01285 623 904