Second Cost of Living payment - report in to DWP? 10 November 2022 at 1:38PM edited 10 November 2022 at 1:38PM in Benefits & tax credits 4 replies 313 views

cantthinkofname

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?

whizzywoo

cantthinkofname said:

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.

poppy12345

Whizzy is correct the COL payments are not counted towards any savings limits.

calcotti

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

cantthinkofname

Thanks everyone - I'll just consider that payment as not happened.