Implications of Bond Ownership

nick2b

If a chunk of Premium Bonds were purchased for a child, could they be taken into consideration when assessing any means tested benefit or support attributed to the parent?

MX5huggy

Yes, especially if the parent purchased them for the express purpose of reducing their capital to increase benefits entitlement. 

nick2b

What would be the mechanism for taking them into account, given their registration doesn't appear to be required during any benefits process. Additionally, would any requirement cease when the child became 18?

Aged

nick2b said:

What would be the mechanism for taking them into account, given their registration doesn't appear to be required during any benefits process. Additionally, would any requirement cease when the child became 18?

Premium bonds are classed as savings, which must be declared when applying for means-tested benefits.

Malthusian

nick2b said:

Additionally, would any requirement cease when the child became 18?

If it was deliberate deprivation it wouldn't stop being deliberate deprivation when the child turned 18. 
If you give your savings to an adult child and then attempt to claim means-tested benefits, that's still deliberate deprivation as well.