Hi everyone,

Hope someone can help with ESA and amount of savings / investments you can hold.

As I have no savings and unable to work, my dad is suggesting to open an ISA and invest 20k for my future needs.

I have been on ESA (support group) since Nov 2015.

My recent annual statement (Feb 2021) read as follows:

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"The payment of Employment and Support Allowance is based on your National Contribution records and any additional amount the law says you need to live on.

Living Expenses £74.70
Extra money because of the Disability Income Guarantee £17.20
Extra money because you are in the Support Group £39.40
Which give a total income-related amount £131.30
No income will be taken off your Employment and support Allowance
Your income-related amount is £131.30 less total income of £0.00
So your income-related entitlement is £131.30
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From the above, I believe I get Contribution Based ESA with an Income Related entitlement of £17.20 (top-up).

If correct, I am right in saying that, if I have more than 6k of savings, then ONLY the Income Related entitlement of £17.20 will be affected.

Or, I am wrong and the above is a Income Related ESA and as such any savings over 6K will affect my ESA and loose ESA totally if over 16k.

Thank you for input in advance.