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PIP Savings

paulus

I am just curious...IF say i were to save my PIP money what happens when it say reach's the saving allowed thresh hold of £16,000 whilst i am on Income Support aswell?

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Comments

poppy123456

Savings don't affect PIP because it's not means tested.

Your savings will affect your Income Support, housing benefit if you claim it and council tax reduction because they're means tested benefits. . Savings of £6,000 and over affect means tested benefits £1 for every £250 over that amount. £16,000 and over and all your means tested benefits will stop.

paulus

So Poppy, what you are saying is..No matter how much i save of my PIP allowance, were it to go over the £16000 then it wont affect my other benefits?...And saving ones PIP money is not in breach of anything? am i correct?

poppy123456

paulus said:

So Poppy, what you are saying is..No matter how much i save of my PIP allowance, were it to go over the £16000 then it wont affect my other benefits?...And saving ones PIP money is not in breach of anything? am i correct?

No, that's not what i said. Your savings will affect your Income Support, housing benefit if you claim it and council tax reduction because they're means tested benefits. .

Savings of £6,000 and over affect means tested benefits £1 for every £250 over that amount. £16,000 and over and all your means tested benefits will stop.

Once your savings reach the lower amount of £6,000 then you need to ring DWP and your local council to report the changes and your benefits will be reduced accordingly.