Pension Credit Capital

[dillm]

Hi

12 months ago my wife transferred £14k from her Life Insurance Policy;

expected at £8 reduction in benefit but did not hear anything from PC:

due to family problems forgot about it until I had a Benefit check last week

 

when I was told by the advisor I was getting £9 per week too much,

 

I phoned PC immediately

could not get through so wrote same day explaining (no copy of original letter as hard drive packed up)

 

spoke to someone at PC this monday

they had not recieved letter,

same day got a Customer Compliance appointment through post for Benefit check,

 

I am taking letter with me, etc

 

can you see any problems

[citizenkain]

Your actually allowed £16,000 in capital before it affects your pension credit,seemingly the DWP has been running capital scans on pension credits claimants,are you sure thats all the capital you have?

[dillm]

Yes this transfer was part of the previous life as

Assurance previously declared

[antone]

Your actually allowed £16,000 in capital before it affects your pension credit,seemingly the DWP has been running capital scans on pension credits claimants,are you sure thats all the capital you have?

 

The lower capital limit for Pension Credit is £10,000. Unlike working age benefits there is no upper limit.

[dillm]

Went OK only there 10 mins it was due to system flagging up the transfer, the compliance officer was OK and seemed impressed with the as action I had taken just have to see what happens next expect deductions etc

[citizenkain]

antone,what do you mean there is no upper limit on capital for pension credit? most folk on pension credit are on other benefits,council tax benefit,housing benefit theyre all means tested arent they?

[antone]

antone,what do you mean there is no upper limit on capital for pension credit? most folk on pension credit are on other benefits,council tax benefit,housing benefit theyre all means tested arent they?

 

Yes, they're all means tested. What I mean is that (unlike working age benefits, where £16k is the limit) there is no upper limit that disqualifies a person from entitlement to SPC. Up to £10,000 is ignored, then a tariff income of £1 per £500 of savings over £10k is applied.

[dillm]

Hi just found two old accounts with 13p in each and one with £6.52 in that I forgot to declare my mother in law was terminally ill at the time will this be classed as fraud even though the total savings at time of Pension Credit claim was less than the capital limit of £10000 (it was less than £1000)

 

what do you think

[renegadeimp]

Very very doubtful that that the agency will even care.

[dillm]

Hi just found two old accounts with 13p in each and one with £6.52 in that I forgot to declare my mother in law was terminally ill at the time will this be classed as fraud even though the total savings at time of Pension Credit claim was less than the capital limit of £10000 (it was less than £1000)

 

what do you think

[antone]

Undeclared capital of £6.65 is not a matter the DWP will be concerned about if it wouldn't have taken you over the £10,000 threshold. Don't worry.

[dillm]

Hi

After reading various Posts on this site; Things seem to be getting complicated

 

I realised that a during the time mother was terminally ill,

I allowed my bank account to be used on her behalf to look after her affairs

(she was a cash only person with a Post Office card for her Pension etc)

I believe we had power to look after her affairs.

 

As per a recent post I have had an interview with a Compliance Officer regarding a Capital Transfer from my wifes Life assurance

that I had told them about 12 month previously

( I had sent them a reminder previous to the Interview foollowing advice after a benefit check)

 

I was told that I could claim Pension Credit at this time as our only income was my Incapacity Benefit;

my wife was an unwaged and the Capital had just about run out

 

My concern is that if they investigate my bank account the DWP will see lots of transactions at least one of £900,

the maximum balance at any one time was £1016 but our capital at that time was I believe zilch even with this our money was well below the capital limit.

I have gone through my statements highlighting my mothers transactions and it is suprising how many there is.

Has any one any suggestions how to show the transactions were for my late mothers

I am not sure if reciepts were kept during the clear out of her home

Even my lads who work long hours often asked me to pay in and transfer the cash into their banks as the both work too far from a bank

Thanks for your help

Edited June 20, 2013 by dillm
bad typing

[honeybee13]

Hello there.

 

You have quite a few interlinked threads about this matter. It's better to keep the information together so that you have advice given to you in one place, and the people trying to advise you can find information easily. If you make it hard for them, you won't get as many replies.

 

I think this should be merged with one of the existing threads, which one would you like it moved to please?

 

HB

[honeybee13]

Two related threads merged.

 

HB

[dillm]

Hello there.

 

You have quite a few interlinked threads about this matter. It's better to keep the information together so that you have advice given to you in one place, and the people trying to advise you can find information easily. If you make it hard for them, you won't get as many replies.

 

I think this should be merged with one of the existing threads, which one would you like it moved to please?

 

HB

Pension Credit Capital

Edited June 20, 2013 by dillm
bad typing

[honeybee13]

Pension Credit Capital

 

Thank you, that should make life easier for the advisers. Threads merged.

 

HB

[dillm]

T

hank you, that should make life easier for the advisers. Threads merged.

 

Thanks everyone it looks like my problems re pension credit may have been resolved

[honeybee13]

Thanks everyone it looks like my problems re pension credit may have been resolved

 

That sounds hopeful for you. Can you tell us what happened please? It could help future caggers with similar problems.

 

HB

[dillm]

Sure

I had previously advised DWP of transfer of funds for car repair and minor house hold project s but not heard anything

I had a benefit check and phoned and wrote to DWP to query this ( I used to be a specialist worker at the CAB )

They have accepted this and I will pay the overpayment which is what I expected

Thanks to everyone as I suffer panic and anxiety attacks