Possible Inheritance and Pension Credits Effect.

murphyboy

Hi, I'm hoping someone can advise me, regarding an Inheritance, my Wife is due next year. It is from a distant relative and we have no idea how much it will be. Both of us are disabled and we are entitled to Pension Credits, AA, PIP, Severe Disability Premium and HB. All this means, that we receive about £200 per week in Pension Credits. Because we don't know how much the Inheritance will be, I am wondering at what stage we could lose our PC's. I hope someone can help, as I'm quite confused. (it doesn't take much, these days) Thanks in advance.

Holly_Scope

Hi @murphyboy I hope you're well?

That's a difficult one without knowing the value expected. Is there any way to get a rough idea from somebody?

I've added a link below for a bit more detail on inheritance and benefits which might be useful, but I think without an idea of the value, it's difficult to gauge the impact.

Inheritance and benefits | Disability charity Scope UK

Best wishes,

Holly.

murphyboy

Thank you so much for your reply, Holly.

Yes it is unusual, but we don't have any idea of the amount, so we are working blind. It might be nothing to worry about, because it's a distant relative and the amount will be shared by a very large Family.

From what you have shown me, I think we will have a lot of scope, at £2 per £1000 above the first £10,000, before running out of Pension Credits. I hope I've got that right. Thank you again.

poppy123456

You are correct about the £2 for every £1,000 about £10,00. For the avoidance of doubt for anyone else the deductions for capital for those claiming Pension Credit is £1/week for every £500 or part thereof over £10,000. There’s no upper limit.

murphyboy

Thank you Poppy.