Pension credit

jewls

My mother in law has savings coming up to 15,000 she gets pension credit will she lose it, she gets attendance allowance at the lower rate
She is worried at the savings she has will affect it

Thnks

ajbell

If she is saving money she does not need pension credit?.

Gers

jewls wrote: »

My mother in law has savings coming up to 15,000 she gets pension credit will she lose it, she gets attendance allowance at the lower rate
She is worried at the savings she has will affect it

Thnks

Here's a more helpful answer - I hope!

http://www.welfarerights.net/benefits-guides/Attendance-Allowance

and

https://www.gov.uk/attendance-allowance/what-youll-get

sleepless_saver

The attendance allowance money is not counted for pension credit, and nor are any savings under £10k. There is no upper limit to the savings/capital you can have with pension credit. With £15000 savings, DWP would assume she gets £10 a week income from that (£1 per £500 savings) and add that on to her other income to assess her eligibility.

Have a look at this government leaflet which explains when she needs to tell DWP about any changes in her circumstances (like increased savings) and when she doesn't. (And if she's worried about it she can phone and speak to them anyway.)

SailorSam

Op i'm not sure if this is right or not, someone else will come back who knows a little more. But the way savings can start to effect Pension Credit, i don't think savings are taken into consideration, if and when she became entitled to the normal Pension.

xylophone

As she is in receipt of AA, her "appropriate amount" may be over the standard rate.

Read carefully

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