Pip backdated payment will take me over my savings limit

jak

I just found out my mandatory reconsideration pip was successful yay! I will be receiving a back payment of £3000! My question is this: If this payment then takes me over the savings limit of £6k, do I have to declare it? Or is it exempt because it’s a lump sum back payment? Some info says it’s disregarded for 12 months? Is this the case or not because I have other savings? (Due to the fact I’ve done nothing for So long as I’ve been so ill)
Many thanks

calcotti

The arrears will be ignored as capital for 52 weeks. So for the next 52 weeks your capital to be taken into account is your actual capital less £3000. After that your capital to be taken into account will be your actual capital.

jak

Brilliant thank you x

ev8

Well done on getting the award you deserve on MR!

jak

Thank you. It’s beem such a stressful nightmare. I’m just so glad it over for now xx