Your savings could affect your claim for Housing Benefit and Council Tax Reduction.

There are different rules for working age and pension age claimants. You are counted as working age if both you and your partner are less than the qualifying age for Pension Credit. If either of you has reached the qualifying age for Pension Credit you are counted as pension age.

• If you and your partner have savings and investments of up to £6,000 it will not affect your benefit. However, you should still declare your savings when you make a claim.
• If you and your partner are both Working Age and have savings and investments of £6,000.01 to £15,999.99, we have to work out your income from your savings and investments. The rate we use is £1 a week for every £250 or part thereof you have in savings and investments. For example, if capital held = £7,200. The first £6,000 is disregarded but there are four units of £250 (£1,000) and one part unit (£200) remaining so £5 is added to your total weekly income.
• If you and your partner have savings and investments of more than £16,000, you will not get Housing Benefit and Council Tax Reduction.

• If you or your partner have savings and investments of up to £10,000 it will not affect your benefit. However, you should still declare your savings when you make a claim.
• If you or your partner are Pension Age and have savings and investments of £10,000.01 to £15,999.99, by law we have to work out your income from your savings and investments at a rate of £1 a week for every £500 or part thereof you have in saving and investments. For example, if capital held = £11,200. The first £10,000 is disregarded but there are two units of £500 (£1,000) and one part unit (£200) remaining so £3 is added to your total weekly income.
• If you and your partner have savings and investments of more than £16,000, you will not get Housing Benefit and Council Tax Reduction unless you are receiving Pension Credit (guaranteed).

Capital includes:

• Bank, building society and post office accounts
• investment trusts • stocks, shares and unit trusts
• premium bonds and National Savings Certificates
• the value of any land or property you own apart from your home