Am I Allowed Any Savings ?

[silka]

I am a state pensioner and I also have a small weekly pension credit, I have no other money coming in.
Am I allowed any savings, someone said it was £10,000, I don't have that by the way

[factor-fiction]

You are allowed to save as much as you want, although it may affect the support you get from the taxpayer

[buildersmate]

FF
Surely the OP means how much savings can he/she have before it impacts on pension credit.

[silka]

That is it Buildersmate,

[factor-fiction]

Yes, the second half of my sentence was meant to cover that.
There is an online calculator that will help

[Svejk]

there's a sliding scale. You used to lose £1 for every £500 savings you had over, I think, £3,000. You'd best 'find' the table.

[silka]

where do I find that ff ?

[factor-fiction]

https://www.gov.uk/pension-credit-calculator

[Svejk]

google 'you gov' pensions?

[buildersmate]

Yes. It is £10k.
Not something I keep in my head, but if you Google "pension credit savings" it gets you to the UK Gov site which explains all. Have you ever tried doing that?

[Sipowicz]

Hope this helps.
http://www.which.co.uk/money/retirement/guides/state-pension-explained/pension-credit/

[237SJ]

Do you have Guarantee credit?

[silka]

Thank you but I know what I get in pensions I don't need to calculate that

[factor-fiction]

But i thought your question was about the effect of savings on your entitlement to pension credit. The calculator helps with that

[ladybirder]

silk you are right, you can have £10k without it impacting on your PC. Scroll down and you'll find it.
http://www.adviceguide.org.uk/scotland/benefits_s/benefits_older_people_s/benefits_for_older_people.htm

[Sipowicz]

Ladybirder, great link!

[ladybirder]

It is a good link isn't it. Silka I hope you noticed you have to select which country you are in. Sorry I should have mentioned that.

[silka]

Good link ladybirder.
I think Buildersmate is answering what I asked, thank you all

[Hopkirk]

Stick the rest under your mattress

[silka]

Haha Hopkirk

[factor-fiction]

Why not try using the pension credit calculator we suggested - you can then enter different savings levels and see what effect it has compared with what you get now