Pensions Credit

mechy

Hi all, my mother in law who is a 90 year old widow has had a letter from the pensions Credit people, and on the back of the letter, it said, that if you have any savings over £10,000. She or us, must inform them.
My mother in law has some savings above this figure, not a lot. But my question is, has the upper limit figure of savings been reduced recently. I thought it was £16,000, my wife thought it was £14,000. & if she has a few thousand pounds over, will it effect her pension credit. As said earlier, she is a widow liveing alone, and my wife is her registered carer??

xylophone

http://www.ageuk.org.uk/Documents/EN-GB/Factsheets/FS48_Pension_Credit_fcs.pdf?dtrk=true
page 16

anmarj

mechy wrote: »

Hi all, my mother in law who is a 90 year old widow has had a letter from the pensions Credit people, and on the back of the letter, it said, that if you have any savings over £10,000. She or us, must inform them.
My mother in law has some savings above this figure, not a lot. But my question is, has the upper limit figure of savings been reduced recently. I thought it was £16,000, my wife thought it was £14,000. & if she has a few thousand pounds over, will it effect her pension credit. As said earlier, she is a widow liveing alone, and my wife is her registered carer??

what you are quoting is to do with housing/council tax. Any savings over £10k are taken into account with £1 for every £500 above that, but your mil should be on an assessed income period review (should be on her letter as a neverending) that means if her savings rise to above what they hold then they do not need to know about any increases.

However if she is on savings credit of Pension Credit only then the upper limit for savings for council tax/housing benefit is £16k and therefore she would need to notify them of the change