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Shouldn't capital limits have been increased by now?

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7 months 2 weeks ago #289764 by PatGPT
Hi,

I was just thinking it's surely been at least 15 years since the last increase in the capital thresholds. If I recall the lower threshold was £3k for those below pension age around the financial crash wasn't it?

When was the last time before that it was increase or was it £3k through the whole of the 90s?

I mean I can't see the government being willing to increase it but surely it should be given how much inflation has eroded savings?
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7 months 2 weeks ago #289771 by Chris
Hi PatGPT,

I'm only aware of 2 limits. One being £6,000 to £16,000 which affects your universal credit amount, and Housing Benefit are different, You can have up to £10,000 in savings before it affects your claim, if you’re over State Pension age.
I do totally agree if this is what you're referring too, but as for how long this has been in place, I've no idea. I only really started getting familiar with UC from 2020 onwards, and there's so much more when it comes to moderating that I am still to learn. Maybe's one of our other claimants has an idea ? If not, one of the other mods will likely know, as they've years of experience when doing this.

Regards, Chris.

Nothing on this board constitutes legal advice - always consult a professional about specific problems
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7 months 2 weeks ago #289780 by PatGPT
Hi Chris,

I'm saying that the lower threshold was changed from £3k to £6k about 15 years ago.

I'm asking how long it was £3k.
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7 months 2 weeks ago #289785 by adam33
I think it went up to £6k in 2009 as you say, the £16k figure where it cuts off completely has apparently been the same since 1990
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7 months 2 weeks ago #289788 by Gordon
This topic is not going to go anywhere productive so I am locking it to further posts.

Gordon

Nothing on this board constitutes legal advice - always consult a professional about specific problems
The following user(s) said Thank You: Chris
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