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Top Pension Credit topic #10

Subject: "pensions credit" First topic | Last topic
wba
                              

welfare benefits adviser, age concern, south lakeland
Member since
02nd Feb 2004

pensions credit
Mon 02-Feb-04 09:32 AM

During an assessed income period does a client receiving pensions credit have to declare an inheritance recently received/ THIS ONE WAS £60,000 , I can't find a reference to having to declare it, but it seems wrong not to declare it!!

  

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Replies to this topic
RE: pensions credit, fiona, 02nd Feb 2004, #1
RE: pensions credit, steve_johnson, 03rd Feb 2004, #2

fiona
                              

Specialist Support Officer (Welfare Rights), Citizens Advice Specialist Support Unit, Wolverham
Member since
02nd Feb 2004

RE: pensions credit
Mon 02-Feb-04 02:21 PM

s7 State Pension Credit Act confirms that indeed, changes in 'retirement provision' do not need to be notified during an assessed income period. 4.43 of Bonner has a quote from the Minister for Pensions, confirming that if a pensioner wins the lottery in the 2nd week of his AIP, the new capital will not be reflected in PC entitlement for another 4 years and 50 weeks... "We can live with ignoring a few individuals' good fortune for the sake of simplification for the overwhelming majority of pensioners.."
Roll on old age!!

  

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steve_johnson
                              

manager, walthamstow cab
Member since
21st Jan 2004

RE: pensions credit
Tue 03-Feb-04 06:54 PM

Thought I'd just add this whilst I wait for my 6 numbers to come up...

If the lottery winner goes "spend, spend, spend" during the AIP, this could amount to a notional capital problem when the chickens come home to roost at the end of AIP review! Remember, under the new wording of the notional capital rules, any expenditure on goods and services must be "reasonable" to be sure to escape the deprivation clause

  

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