Declaration of savings over £6000 due to Pip back payment

Avril48

Last March I received a back payment from Pip (£5500). This took me over £6000. I knew that it would be disregard for a year and thought no more about it as I was very ill at the time. I have only just been feeling well enough to think about this again properly and I am now worried as I did not actually inform UC! Does it matter that did not tell them? 

Avril48

I forgot to say that I am still over the £6000 now because of this! 

poppy123456

You didn't need to inform UC at the time about your savings because as you correctly said, it was disregarded for 1 year. 

If after the 1 year from when you received the money from PIP you still have more than £6,000 then you will need to report a change of circumstances for UC. There will be a £4.35/month deduction for every £250 or part thereof over £6,000. 

Do also remember that all of the cost of living payments are disregarded indefinitely, so you would disregard those from your current savings. 

Avril48

Thank you so much Poppy123456 for your response, this has been weighing heavy on my mind. You are a star... 😊

poppy123456

You’re very welcome ☺️