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Hi,
I wonder if anyone can give me a bit of information.
I vaguely heard on the radio the other day that with this whole change to the way benefits are organised then anyone who has more than 16,000 in savings will get nothing at all. I have a little more than that. I don't know if this is right but it has worried me a bit. I don't have much income, but I get a good amount of tax credits, and my father in law gives me some money each month to help with the rent, so we have nearly enough, but dig into the savings a bit each month.
The reason I have all this money anyway is that when my husband died his friends got together and gave me a big sum of money because they knew he was a bit hopeless and didn't have life insurance, and we didn't own our flat or anything. In fact he hadn't even paid enough national insurance for us to get the full Bereaved Parents Allowance! So I have this money, but I am hoping one day to use it for a deposit to buy a flat, and if they take away my tax credits then I'll be a bit stuck. I am aware I am very lucky and maybe shouldn't get help when I am in this position, but the change - if it is happening - is going to effect me a lot.
I might not have heard right about it as I haven't read that anywhere else, but I'd really like to know when this is happening, if it is so I can work out a plan.
Cheers.
Thanks.
Hi Everyone
Re the comment about tax credits and capital rules plus other changes to benefits;
Ok I have spent many hours looking over the Universal Credit proposals and do not see any proposal to changes to tax credits current rulings re capital and savings; at present there are no limits to savings for tax credit entitlements. There are current rules that state that any capital capable of generating an income will be ignored but that the income generated because of the capital/assets/investments could be taken into consideration when a calculation for tax credit entitlement is worked out.
The £16,000 figure is a current ruling for Housing Benefits ie local housing allowance ,council tax benefit and some other benefits such as Income Support/ Job Seekers Allowance ( non contributory) the ruling being that this sum is the cut off point for entitlement to these benefits.
There are many proposals still in the offing re the Universal Credit ( which is set to replace many benefits and tax credits) and the Welfare Reforms.
Watch this space for further updates and information as it happens
Thank you so much for posting that 
Hello Isnan
The plans are very much in their formative stage at the moment and the proposed date of introduction is October 2013...so no need to panic.
As you may know, we have a fab Money Advice Service. I will email them and ask them to add a comment to this thread with the latest news. Hope that is Ok for everyone.