PIP Savings
paulus
Online Community Member Posts: 19 Listener
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
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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.0
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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?1
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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.
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