Declaration of savings over £6000 due to Pip back payment

Avril48
Avril48 Online Community Member Posts: 13 Listener
in Universal Credit (UC)
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? 

Comments

  • Avril48
    Avril48 Online Community Member Posts: 13 Listener
    I forgot to say that I am still over the £6000 now because of this! 
  • poppy123456
    poppy123456 Online Community Member Posts: 64,456 Championing
    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
    Avril48 Online Community Member Posts: 13 Listener
    Thank you so much Poppy123456 for your response, this has been weighing heavy on my mind. You are a star... 😊


  • poppy123456
    poppy123456 Online Community Member Posts: 64,456 Championing
    You’re very welcome ☺️ 

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