Next steps
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There are benefits you can apply for if your income is below a certain level, this includes any savings and investments you have and are called means-tested benefits. There are also other benefits and allowances that aren’t means tested available.
If you’re thinking of releasing equity from your home, bear in mind that this will increase your wealth. This could therefore impact your entitlement to means-tested benefits.
Want to know a little more about tax in retirement? Read about: