Your Capital

You can still claim benefits from the Council if you have savings or investments (we call this money capital) as long as you don't have more than £16,000. 

 

If you have a partner, your joint capital must be less than £16,000 to claim, unless you are only claiming Second Adult Rebate.

 

If your capital is more than £6,000 but less than £16,000, your benefits may be affected. 

 

We add £1 to your weekly income figure for each £250 or part of £250 you have over £6,000 (£500 or thereof, aged 60 years or over).  Any amount we have added in this way is shown on your letter.

 

If you have less than £6,000 savings or you are getting Income Support or Income Based Job Seekers Allowance we ignore any savings when we work out your benefits.