Savings over pension credit limit

markstephens77

My relative is 80, lives alone and receives pension credit, no other income. Since she started receiving it she has spent very little and the money in her account has gradually crept up to well over the savings limit.
Does she have to tell DWP this? The money is only pension credit, nothing else.
Also can the DWP claim it back on her death?

Alice_Holt

There is no savings limit for PC.   Google the Age UK PC fact sheet if you wish to correct your misunderstanding.

Tariff income is assumed above £10k of savings.
If she has over £10k, she should advise DWP accordingly. They will then reduce her PC by the assumed tariff income.
She should continue to tell the DWP when her savings increase by £500.  

JGB1955

If she has £10,000 or less in savings and investments this will not affect her Pension Credit.

If she has more than £10,000, every £500 over £10,000 counts as £1 income a week. For example, if she has £11,000 in savings, this counts as £2 income a week.

She should Contact the Pension Service helpline to let them know that her circumstances have changed.