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If capital is over a certain level DWP assume an income from it called tariff income. You are assumed to have an income of £1 for every £250, or part of £250, by which your capital exceeds £6,000 but does not exceed £16,000.
If you are in a care home or similar tariff income applies between £10,000 and £16,000.
Since Pension Credit was introduced in October 2003, the £6,000 and £10,000 thresholds have not been revalued for inflation. £6,000 in Oct 03, may be worth the equivalent of £7,000 by now, does anyone know whether these thresholds will ever change?
Does anyone know if there is any plan for DWP to change the assumption about income from savings given the current poor rates of interest?
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