15.—(1) Where the person concerned is of pensionable age and his annual disposable income (excluding any net income derived from capital) is less than the figure prescribed in section 17(2)(a) of the Act there shall be disregarded the amount of capital as specified in the following table:–
| Annual disposable income (excluding net income derived from capital) | Amount of capital disregarded |
|---|---|
| Up to £350 | £35,000 |
| £ 351 — £ 800 | £30,000 |
| £ 801 — £1,200 | £25,000 |
| £1,201 — £1,600 | £20,000 |
| £1,601 — £2,050 | £15,000 |
| £2,051 — £2,450 | £10,000 |
| £2,451 and above | £ 5,000 |
(2) In this Schedule “pensionable age” means–
(a)in the case of a man, the age of 65; and
(b)in the case of a woman, the age of 60.