Who gets 20% return on their savings?

[airbolt]

Apparently the amount deducted from the weekly job seekers allowance is calculated at £1 per week for every £250 of savings > £6000 and < £16000.

Annualised that means £52 return from £250!! If anyone knows a way of getting 20% return on their savings could they please share it? At a time of 0.5% Base Rate this seems to be very unlikely.

[factor-fiction]

Yes, it has been totally unrealistic for many years now

[buildersmate]

The answer to your question is nobody.
But then you are drawing an inappropriate analogy that assumes that the deduction (which does not apply to Contribution-based JSA, only the Means-tested type) is intended to cover the equivalent earnings from the interest on the savings; it isn't.
The idea is that one uses up the capital from one's savings first, before drawing money from the State, funded by taxpayers.

[factor-fiction]

I think it applies to pension credit too (although that is complicated by pensions savings credit which I have never understood)

[airbolt]

As someone who has used up most of the savings that were supposed to keep me going in later life, I found that buildersmate's answer rather judgemental.

[beso]

I found airbolt's last post rather judgemental. Perhaps they should relaise the public purse that was supposed to keep retired taxpayers going later has also been mostly used up at least in part by paying unemployment benefits.

[buildersmate]

Me too Beso.
I just answer the questions.
Ask a leading question containing a dubious assumption and one is bound to be dissapointed with the answer.

[grffindoor2011]

''Perhaps they should realise the public purse that was supposed to keep retired taxpayers going later has also been mostly used up''

Are you refering to the state pension? There is no pot for that, you and I pay out of our NI and that is what pensioners receive now.

Any pensioner that gives you grief you can honestly say that you are keeping them in comfort and to jog on.