Pension Credit & Inheritance 29 October 2022 at 5:13AM in Benefits & tax credits 1 reply 164 views

machje

I have received a large sum from inheritance.  I will be using it to pay off our mortgage, credit card bills etc with a small amount left (under £10000).

Will my husbands pension credit be stopped.

calcotti

There are no capital limits on Pension Credit (unlike working age benefits) so there is no automatic end to PC. However any capital over £10,000 will reduce the PC payable by £1/week for every £500, or part thereof, over £10,000. The money will be taken into account while in your possession.

if you are going to immediately use the money to pay off debt etc then the correct thing to do is to then inform PC of the inheritance and provide details of how the money has been spent. A DWP decision maker will then have to decide if the the expenditure was reasonable.