Wealth
The question
To ask the Chancellor of the Exchequer, whether her Department's definition of a millionaire includes (a) assets, (b) the outstanding value of pension pots and (c) income levels in the context of (i) winter fuel payments and (ii) other policies.
Answered by Torsten Bell
The Winter Fuel Payment will be paid to those with total incomes below or equal to £35,000. This means those on lower and middle incomes will still receive the help they need and ensures fairness for both pensioners and taxpayers.
The standard definition of total taxable income applies. This includes any savings interest outside an ISA, even if the savings are under the Personal Savings Allowance
Other benefits have their own means tests, which take differing personal and financial circumstances into account to ensure support is appropriately targeted.
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