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Housing benefits

How we assess your savings

Aged 59 or less 

If you (and your partner) are aged 59 or less and your total capital is more than £6000, for every unit of £250, or part unit, £1 is added to your weekly income.

For example:

Capital held £6950. The first £6000 is disregarded but there are three units of £250 (£750) and one part unit (£200) remaining so £4 is added to your total weekly income.

If you and your partner's combined savings exceed £16,000 you will not qualify for benefit.

Aged 60+

If you (and your partner) are aged 60 or over and your total capital is over £10,000, for every unit of £500, or part unit, £1 is added to your weekly income.

For example:

Capital held £11,000. The first £10,000 is disregarded but there are two units of £500 remaining so £2 is added to your total weekly income.

For claimants who qualify for pension credit the following capital rules apply:

Entitled to guarantee credit: no capital limit

Entitled to combined guarantee and savings credit: no capital limit

Entitled to savings credit only: £16,000 upper limit applies

For claimants who have no entitlement to Pension Credit the £16,000 capital applies.

Page last updated:
07 Oct 2020

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