Savings

The government says that we must treat your savings as if they were invested and earning an income for you. You will be charged on an assumed (or 'notional') income from your savings even if the actual amount that you get in interest is lower.

We ignore the first £13,500 of your savings but if you have between £13,500 and £22,250 we say that every £250 above £13,500 gives you an extra £1.00 of income per week.

If you have savings or capital (this does not include your own home) of more than £22,250 you pay, (or contribute towards direct payments), the full charge of £8.71 an hour up to a maximum of £77.00 per week.

Pensions

Examples of pensions included as income are:

  • occupational/private
  • state retirement
  • superannuation
  • pension credit
  • State Earnings Related Pay (SERPS)

Social Security benefits

All benefits are included except:

  • Working Tax Credit
  • Disability Living Allowance (mobility component)
  • Part of the highest rates of Attendance Allowance and Disability Living Allowance (care component)
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