Savings — Scope | Disability forum
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Savings

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pnewby38
pnewby38 Community member Posts: 25 Listener
I got £8000 back date and I'm going to get high rate care and low rate mobility on top of my monthly universal credit and LCWRA amount.  So my question is will my pip backdate money and my future monthly pip payments be totally disregarded for reducing all mean tested benefits? ie the £16000 max rule on at a starting point of £6000 savings reducing means tested benefits by £1 for every £250 over.

Can I have £20000 worth of pip money and it won't effect none of means tested benefits?

Comments

  • poppy123456
    poppy123456 Community member Posts: 54,243 Disability Gamechanger
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    The backdated money from your PIP will be disregarded for 12 months from means tested benefits. 

    Any money that is unspent from anywhere, which includes PIP will affect your UC in the assessment period after you receive it. 

    As it's Universal Credit you're claiming then for every £250 or part thereof over £6,000 your UC will reduce by £4.35/month. Savings of more than £16,000 will end all means tested benefits. 

    If you're claiming council tax reduction, some local Authorities have a maximum savings limit of £6,000 before entitlement ends. You must make sure you report all changes. 
    I would appreciate it if members wouldn't tag me please. I have all notifcations turned off and wouldn't want a member thinking i'm being rude by not replying.
    If i see a question that i know the answer to i will try my best to help.
  • Bashford61
    Bashford61 Community member Posts: 38 Courageous
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    be safe spend it 
  • letitbe
    letitbe Community member Posts: 282 Pioneering
    edited March 28
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    I’m having lots of trouble trying to spend my money too 
  • Bashford61
    Bashford61 Community member Posts: 38 Courageous
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    letitbe said:
    I’m having lots of trouble trying to spend my money too 
    Not sure if that is good or bad , I have no trouble spending mine 

  • pnewby38
    pnewby38 Community member Posts: 25 Listener
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    Thank You.  I think it will be nice to have £5000 emergency savings in my account.

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