How much savings can a uk pensioner have and not lose pension?
If you have either a pension plan or you are eligible for the state pension, the amount of money you have stashed away shouldn'y affect it at all.
If you are entitled to the basic state pension because of your NI contributions you could be a millionaire and they have to pay it - savings affect other benefits but not the state pension
not sure but try www.inlandrevenue.com (i think) or ring welfare benefits or citizens advice
It's not based directly on savings, but on the interest you earn from the savings. The interest is treated exactly as any other income, so only you know the answer.
Savings do not affect the right to have a pension in the UK but they do affect the right to benefits. There is some excellent information on
Do hope this helps.
You get the basic state pension and the various earnings related supplements based on your NI contribution record. It doesn't matter how much is in the bank.
You can only claim means tested benefits if you've got less than £12,000 in savings. These benefits are designed to top-up your total income to a particular level so any interest from the savings and any other income effectively comes off your benefit.
Stuff everything you have in the mattress. If this Government wants it in the future, there is nothing you can do if it is traceable. From what I see, they want to tax us 100 percent and give us all pocket money and its happening! Green Taxes "My ****!" (Substitute for rectum.)
Savings have no impact on the right to a pension. The State Pension is based on National Insurance contributions (made by the employer) through the individuals working life. Any savings don't affect that.
Any other pensions - i.e. a personal plan or a company pension are again totally seperate to any savings the person has. The pension paid depends on how the investment in the pension has performed, how much was paid into the pension originally and on any specific scheme rules for the plan.
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