Pension credit and Life Insurance Investment Bond

YikesSteveH

My elderly mother is denied pension credit and all that goes with it (as a gateway benefit)
since she and her husband (deceased) worked hard and managed to accumulate some modest savings. She is left trying to run a home on the minimal state pension.

My question if is she could move her savings to a Life Insurance Investment Bond, and then 
be eligible for pension credit?

Would that be seen as deprivation of assets/avoidance etc?

born_again

Could do.

Although what does "Modest" mean?
Best option is to use the savings till they drop to a level where PC can be claimed.

Not being harsh here. End of the day if they have worked hard & saved, then this is exactly the situation that their savings are for.

peteuk

Pension credit,  boosts to a minimum pension level, and savings only come into it when you have more than £10K. 

At the £10K point for every £500 over the pension credit is reduced by £1.00.

So I doubt it’s the savings that stopping her claim it’s her income eg pensions.

Spoonie_Turtle

Just so you know, OP, unless she receives a qualifying disability benefit and lives alone, Pension Credit would potentially top up her weekly income to £227.10.  So if her weekly income is that or more then it's not her savings precluding her from qualifying.