The UK's benefit system supports individuals with savings up to £16,000 despite misconceptions.
The UK's benefit system provides support for individuals with savings up to £16,000, countering the misconception that those with substantial savings cannot receive assistance. Benefits like Pension Credit and Universal Credit allow partial aid even when capital exceeds specific thresholds, decreasing payments after £6,000 and ceasing at £16,000. The Department for Work and Pensions considers both individual and partner assets when determining eligibility, though benefits are not means-tested.
September 18, 2024
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