Would this be deprivation of capital?

TELLIT01

latest_flame wrote: »

Its £2 a week, so why worry?

The OP seems to think that every bit of spending will be examined under a microscope if they go over the £6k limit, so their concern is understandable, or would be if that happened. The reality, given the actual figures involved, is that providing details when the total tops £6k and again once it drops below that figure again is probably all that will be required.

rockingbilly

TELLIT01 wrote: »

The OP seems to think that every bit of spending will be examined under a microscope if they go over the £6k limit, so their concern is understandable, or would be if that happened. The reality, given the actual figures involved, is that providing details when the total tops £6k and again once it drops below that figure again is probably all that will be required.

That is all well and done if what we are talking about are balances in a bank account.
However, and I have heard of this actually happening when it comes to cash in the home or in a purse and where multiple benefits/other income are in payment that hit the bank account at different days of the week.
I had to try to help someone out who always kept a small amount of cash for daily use as well as receiving multiple benefits.
The DWP wanted to know exactly how much cash was floating around the house as previously he had admitted to them that it was between £10 and £100 at any one time. His capital in the bank was just under £6,000 on a permanent basis.

The result was that his benefits stopped and started and every time it went down he had to certify exactly what cash he had along with details of any benefits that he had saved and not spent within the week that he had received them.
At worst he was having up to £2 a week stopped.

NeilCr

OP

Please be aware that Rockingbilly has posted elsewhere that he was diagnosed with dementia and confusion three years ago. In other threads experienced and trusted posters have pointed out inaccuracies in his posts which could stem from his condition

Obviously, it's up to you if you take heed of what he writes - but, it would certainly be sensible to be aware of his diagnosis.

Alice_Holt

NeilCr wrote: »

OP.... it would certainly be sensible to be aware of rockingbilly's diagnosis.

Indeed.
I would strongly suggest that the OP ignores any (mis)information posted by rockingbilly.

The OP may care to take a look at these threads (they do make quite entertaining reading!) before deciding on how seriously to take any advice or comments posted by rockingbilly:
https://forums.moneysavingexpert.com/discussion/5626671
and https://forums.moneysavingexpert.com/discussion/5617003.

Hang on.....there's a knock on the door. It's the DWP coming to check the contents of my penny jar!!

DigForVictory

Me, I'd be buying a few sovereigns or krugerrands, just so the official numbers drop below the watch amount. From someone like Chard who is both bricks & click & has a reputation to defend.
The local stamp shop has alas gone to the wall, but cash converters etc will switch your little gold coins back into folding with very little fuss.
Just store them safely?!

rockingbilly

Alice_Holt wrote: »

Indeed.
I would strongly suggest that the OP ignores any (mis)information posted by rockingbilly.

The OP may care to take a look at these threads (they do make quite entertaining reading!) before deciding on how seriously to take any advice or comments posted by rockingbilly:
https://forums.moneysavingexpert.com/discussion/5626671
and https://forums.moneysavingexpert.com/discussion/5617003.

Hang on.....there's a knock on the door. It's the DWP coming to check the contents of my penny jar!!

Is there any real need to bring other threads into the equation?
I was not giving advice but merely pointing out that when claiming a means tested benefit you are required to state in addition to investments and money in the bank, the amount of loose cash you have either on you or in the home + the amount of benefit that is left unspent.

Do you agree or not?

TELLIT01

skcollobcat10 wrote: »

But if a person is already on benefits, well that isn't going to change but if over the years they have managed to save £6000 for example, that money is their own. If anybody is silly enough to spend it all on a TV, then that would be their choice. Why does your personal spending have to be reasonable? And why would you need permission from DWP to spend it as you see fit?

When savings / capital are below £6k DWP aren't interested in what the claimant does with that money. They are interested when it gets above that figure because at that point it does have an effect on entitlement to Income Related benefits.
Using the OP's own example, if savings have gone a few hundred pounds over the £6k and then drop back a couple of weeks later the expenditure isn't likely to raise any questions.

rockingbilly

skcollobcat10 wrote: »

I suppose it's different for the op but most people on benefits would probably be unable to save much.

With non means tested benefits there is no question of deprivation.

Receiving a means tested benefit does not preclude people saving money and provided that they have less than £16,000 they could possibly still receive some benefit.
Being over 65 does change things. There is no upper limit and you can have up to £10,000 and it will not affect the amount of means tested benefit being paid.

Many people receiving some means tested benefit will not only be able to save but could well have substantial cash in the bank.

You don't have to be poor to receive a means tested benefit.