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Second Cost of Living payment - report in to DWP?

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cantthinkofname
cantthinkofname Posts: 14 Forumite
First Anniversary First Post
edited 10 November 2022 at 1:38PM in Benefits & tax credits
I'm looking into this on behalf of a pensioner receiving PC.

If the pensioner's capital position two weeks ago was ~£10,400 after receiving monthly SP of £600, I understand that the last payment of SP is disregarded.  So in this instance, their capital would not have exceeded the 10k threshold.

With the second Cost of Living payment issued this week of £324, do they need to report the change in circumstance?  Would DWP disregard both £324 (being last payment) and last SP of £600 to determine capital balance for PC purposes?

Comments

  • I'm looking into this on behalf of a pensioner receiving PC.

    If the pensioner's capital position two weeks ago was ~£10,400 after receiving monthly SP of £600, I understand that the last payment of SP is disregarded.  So in this instance, their capital would not have exceeded the 10k threshold.

    With the second Cost of Living payment issued this week of £324, do they need to report the change in circumstance?  Would DWP disregard both £324 (being last payment) and last SP of £600 to determine capital balance for PC purposes?
    As far as I am aware the Cost of Living Payments do not count towards Capital thresholds but I cannot find the legislation at the moment.
    Hopefully someone else will come along to advise you more specifically.
    "All shall be well, and all shall be well, and all manner of thing shall be well."  :) 
  • poppy12345
    poppy12345 Posts: 18,879 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper
    Whizzy is correct the COL payments are not counted towards any savings limits.
  • calcotti
    calcotti Posts: 15,696 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    whizzywoo said:
    As far as I am aware the Cost of Living Payments do not count towards Capital thresholds but I cannot find the legislation at the moment.
    https://www.legislation.gov.uk/ukpga/2022/38/section/8
    Information I post is for England unless otherwise stated. Some rules may be different in other parts of UK.
  • Thanks everyone - I'll just consider that payment as not happened.


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