over 80

athome

If someone is on guaranteed Pension Credit and over 80 years old is it correct that they do no have to notify Benefits people of 'windfall' savings. Whole benefits thing is confusing!

anmarj

only if they have a never ending AIP set in the first place. if nothing has been set then they need to find out if they should have one set. does not matter if they are on guaranteed credit or savings credit.

Mojisola

https://www.onlineseniorlife.com/20090925494/Finance/Pensions/pension-credit.html
Since April 2009, people aged 80 or more who apply for Pension Credit will usually be given an AIP that lasts indefinitely. But even when an AIP has been fixed, there are still changes you’ll need to report such as: being widowed, getting married; and going into hospital.

I've just been through this with my parents - both over 80. They got a small inheritance and I notified the DWP. They sent back a letter saying that the extra capital would make no difference to their benefits because they have an indefinite AIP.

headoutthesand

yes they do.

For every £500 over £10,000 in saving it counts as £1 in income (even if it's not actually income)

For example:

£14000 savings counts as an extra £8 per month in income.

Speak to the CAB for further advice on whether the 'windfall' will take them over the threshold for entitlement to pension credit

Mojisola

headoutthesand wrote: »

yes they do.

For every £500 over £10,000 in saving it counts as £1 in income (even if it's not actually income)

For example:

£14000 savings counts as an extra £8 per month in income.

Speak to the CAB for further advice on whether the 'windfall' will take them over the threshold for entitlement to pension credit

The rules are different for the over-80s but it's always best to notify the DWP.

athome

Thanks to all who replied, will take up all the advice.:j

suelees1

Yes it's the Assessed Income Period (AIP) which is the crux of whether it will be disregarded. In this case you could win the lottery and it would be disregarded.

Only if you're NOT in an AIP will capital be taken into consideration as headouthesand says.

If you've had an AIP applied the money will be ignored. By the way it doesn't have to be indefinite but it's preferable. However indefinite is better because if it was a shorter period the Pension Service could look at how much you have left at the end of any AIP

Call the Pension Service to query the status of your current claim.

athome

Will look at AIP which I think she has otherwise we need to get this declared. Only just became aware of this so thanks again

athome

Found out she was AIP so rang the DWP and they said no problem as she is over 90years old we just leave them to get on with their lives! Questioned person I spoke to again and she confirmed there was no problem. so wrote down date and time I spoke with her as confirmation that I had done so!

suelees1

sounds right

poppasmurf_bewdley

headoutthesand wrote: »

yes they do.

For every £500 over £10,000 in saving it counts as £1 in income (even if it's not actually income)

For example:

£14000 savings counts as an extra £8 per month in income.

Speak to the CAB for further advice on whether the 'windfall' will take them over the threshold for entitlement to pension credit

This does not always apply in the case of Guaranteed Pension Credit. If the personal concerned has an Assessment Period (they will be told in the letter confirming Guaranteed Pension Credit if they have it), they do not even have to notify the DWP even if they won the Lottery during that period.