General question regarding savings.

AGhostinamodernera

Do you have to report savings that range from 10-1000 that you have raised between the period of 3-12 months?

From the information I have read it says that you must report savings over 6k? Is that correct?

I am talking about savings raised from benefits or savings from selling personal possessions and fall to that specific range of 10-1000.

bspm

AGhostinamodernera wrote: »

Do you have to report savings that range from 10-1000 that you have raised between the period of 3-12 months?

From the information I have read it says that you must report savings over 6k? Is that correct?

I am talking about savings raised from benefits or savings from selling personal possessions and fall to that specific range of 10-1000.

What you have read is correct, savings over £6000 must be reported.

p00hsticks

It depends on what benefits you are talking about.


Some, such as PIP and contributions based JSA aren't means tested and you can have as much savings as you like.


But for means tested benefits you must report savings

AGhostinamodernera

p00hsticks wrote: »

It depends on what benefits you are talking about.


Some, such as PIP and contributions based JSA aren't means tested and you can have as much savings as you like.


But for means tested benefits you must report savings

I just got off the phone with DWP phone line (0345 606 0265) which was transferred to JSA and they stated that you do not have to report any savings below 6k. I even asked them for the specific range and they stated the same thing.

Edit: Two additional individuals reconfirmed from the phone as well because I wanted to be 100% confident.

[Deleted User]

And remember that any benefits paid to you aren't counted as savings until the end of the period they are paid for, if that makes sense