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Original poster

Savings limits - time for it to be upped?

236 replies

Goose38 · 14/11/2024 17:42

Just wondering if anyone knows if there’s any plans for the savings limit to be upped .
I think it’s crazy it’s been capped at 16k for so many years, this needs updating.
How is anyone meant to improve their lives with such a low limit . If anyone knows of any government petitions etc would be grateful.

OP posts:
Mirrorxxx · 14/11/2024 17:59

@IVFmumoftwo why should tax payers pay for other people’s savings

IVFmumoftwo · 14/11/2024 17:55

Mirrorxxx · 14/11/2024 17:50

No it should be lowered. If you can save 16k you don’t need benefits

Should they not be allowed to save at all?

PhilosophicalCheeseSandwich · 14/11/2024 17:54

No, I'd say it's very generous as it is. If you have £16k tucked away, you're able to weather a lengthy disruption in your income which is unlikely for someone on benefits - they'll either get a job or carry on claiming.

LlynTegid · 14/11/2024 17:54

I'm not aware of any plans, and indeed I would lower it and perhaps have some tapering once you are near or below the limit.

BrightLemonShark · 14/11/2024 17:53

Goodness no.
£16,000 it would take us a decade to save that and we have a household income of nearly £60,000.

Cheshiresquirrelsss · 14/11/2024 17:52

why would anyone needing benefits if they sit on that sort of money????

RareMaker · 14/11/2024 17:51

I don't have any. How are people getting savings on low incomes?

Mirrorxxx · 14/11/2024 17:50

No it should be lowered. If you can save 16k you don’t need benefits

Sunshineandrainbow · 14/11/2024 17:48

No way... I work a full time job plus an evening job and don't have those savings.
I have tried to improve my life with a extra job for the last 5 years but I can't save much.

BibbityBobbityToo · 14/11/2024 17:44

What would you change it to if you were Prime Minister and what services would you cut to fund it?

buffyspikefaithangel · 14/11/2024 17:44

That's 8 months wages for me, I could only dream of having that amount of savings so no it's not really that low at all

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