Accumulating Pension Credit - Capital reassessment?

sheramber

But move to where?   Has to be main high street bank or BS, branch only (as no internet).   

What options are available locally?

Sea_Shell

Spoonie_Turtle said:

The lump sum CoL payments are disregarded indefinitely.  They show up on bank statements with a DWP reference that clearly relates to what they are.

Relevant ones would include
£324 + £326 low income CoL
£150 Disability CoL
Winter Fuel Payments (£250 each, most likely)
£25 Cold Weather Payments

Anything from the local council, maybe, would depend on the legislation for specific schemes.

Energy-specific payments paid via the energy supplier are not disregarded, if I remember rightly, but that would have to be checked to confirm.

Can I just ask another quick question, following something I read elsewhere...

On the point in bold above.    

If these COL payments would take someone OVER the £10k savings threshold, but then would be disregarded.   Do they have to ring up every month to declare the gross total, or can they do their own sums and if the net is still under, they don't have to do anything?  

For example, say, at the end of each month, having spent all their income that month, they have £11,000 in savings, of which £2500 was COL, so only relevant NET savings of £8,500

(ignore any injury compensation for the time being)

After going through everything, they have received a total of £2250 in COL payments which have remained unspent and are sitting in their account, making up part of their balance.

Jyana

Spoonie_Turtle said:

The lump sum CoL payments are disregarded indefinitely.  They show up on bank statements with a DWP reference that clearly relates to what they are.

Relevant ones would include
£324 + £326 low income CoL
£150 Disability CoL
Winter Fuel Payments (£250 each, most likely)
£25 Cold Weather Payments

Anything from the local council, maybe, would depend on the legislation for specific schemes.

Energy-specific payments paid via the energy supplier are not disregarded, if I remember rightly, but that would have to be checked to confirm.

Any £25 Cold Weather Payments and funds that come from local councils, such as the £150 Council Tax rebate most people got in 2022, are only disregarded for 12 months instead of indefinitely. I'm not at home at present so can't easily reach for my sheet that I keep handy on my laptop, but can post the source later on if need be. 

ETA: Just noticed that I do have the 025 Capital Disregards V22-0 doc on my phone which mentions the Energy Rebate, but not the CWPs. I can't remember the name of the doc I have saved which does include mentioning them, having a bit of a pudding brain day so far rather annoyingly. 

Sea_Shell

Jyana said:

Spoonie_Turtle said:

The lump sum CoL payments are disregarded indefinitely.  They show up on bank statements with a DWP reference that clearly relates to what they are.

Relevant ones would include
£324 + £326 low income CoL
£150 Disability CoL
Winter Fuel Payments (£250 each, most likely)
£25 Cold Weather Payments

Anything from the local council, maybe, would depend on the legislation for specific schemes.

Energy-specific payments paid via the energy supplier are not disregarded, if I remember rightly, but that would have to be checked to confirm.

Any £25 Cold Weather Payments and funds that come from local councils, such as the £150 Council Tax rebate most people got in 2022, are only disregarded for 12 months instead of indefinitely. I'm not at home at present so can't easily reach for my sheet that I keep handy on my laptop, but can post the source later on if need be. 

ETA: Just noticed that I do have the 025 Capital Disregards V22-0 doc on my phone which mentions the Energy Rebate, but not the CWPs. I can't remember the name of the doc I have saved which does include mentioning them, having a bit of a pudding brain day so far rather annoyingly. 

Oh.   So if they have received a total of £1300 in 2022, that can no longer be disregarded?!?    

Their next payments were received in May 23, so are still "in", so to speak.

Should they keep a running total of payments "made within the last 12 months" and drop each one off, on a rolling 12 month basis?  

Jyana

The Energy Rebate was the one off payment people got in 2022 of £150 from their council via a Council Tax rebate if your house was in the council tax bands A to D range. It doesn't affect any other CoL payments in any way.

Sea_Shell

Jyana said:

The Energy Rebate was the one off payment people got in 2022 of £150 from their council via a Council Tax rebate if your house was in the council tax bands A to D range. It doesn't affect any other CoL payments in any way.

They wouldn't have had any of the discounts that go directly to the "bill payer".   Discount off CT or direct credit to energy.

So these haven't been "counted".

They did get £324, £326, £150, £500 directly into their account, during 2022, under various schemes.

kimwp

Sea_Shell said:

Even if they "save up" to buy a new needed "thing"?

Say, for example, they currently have £9500, but want to "save" £500 per month, for 10 months towards some house refurbishment, that will cost £5000.

Rather than spend the £5000 up front and then worry about leaving themselves short, for an emergency.

Would they have to notify DWP every month from month 2, and then again in month 11?

Given they have guaranteed income, £4500 for an emergency should be sufficient?

Jyana

Sea_Shell said:

Jyana said:

The Energy Rebate was the one off payment people got in 2022 of £150 from their council via a Council Tax rebate if your house was in the council tax bands A to D range. It doesn't affect any other CoL payments in any way.

They wouldn't have had any of the discounts that go directly to the "bill payer".   Discount off CT or direct credit to energy.

So these haven't been "counted".

They did get £324, £326, £150, £500 directly into their account, during 2022, under various schemes.

No worries. My original comment was a reply to Spoonie about her querying the legislation on the council and energy payments in the quoted comment I replied to. Apologies if that was confusing to the situation for you.

Spoonie_Turtle

Jyana said:

Spoonie_Turtle said:

The lump sum CoL payments are disregarded indefinitely.  They show up on bank statements with a DWP reference that clearly relates to what they are.

Relevant ones would include
£324 + £326 low income CoL
£150 Disability CoL
Winter Fuel Payments (£250 each, most likely)
£25 Cold Weather Payments

Anything from the local council, maybe, would depend on the legislation for specific schemes.

Energy-specific payments paid via the energy supplier are not disregarded, if I remember rightly, but that would have to be checked to confirm.

Any £25 Cold Weather Payments and funds that come from local councils, such as the £150 Council Tax rebate most people got in 2022, are only disregarded for 12 months instead of indefinitely. I'm not at home at present so can't easily reach for my sheet that I keep handy on my laptop, but can post the source later on if need be. 

ETA: Just noticed that I do have the 025 Capital Disregards V22-0 doc on my phone which mentions the Energy Rebate, but not the CWPs. I can't remember the name of the doc I have saved which does include mentioning them, having a bit of a pudding brain day so far rather annoyingly. 

I can't find anything official confirming or denying that for CWPs (the gov.uk page says it doesn't affect any other benefits, but they're not known for being scrupulously thorough on those pages) so it is probably safer to say 12 months for those then. 
As they're only £25 each and we don't get many of them these days it shouldn't make too much of a difference!