Update please

Hi folks,
house is sold going through the legal process, new place
is bought and also going through the process, what do I do now as far as
Pension Credit is concerned? nothing will change much as what we sold at
and what we bought at was only five grand difference, by the time I have
paid everybody and paid to move (about three grand), replaced the
cooker, bed and a few other items there wont be much left of the five
grand surplus,

regards. Terry

"Terence Lynock (MSW)" <> wrote in message
news:...
> Hi folks,
> house is sold going through the legal process, new place
> is bought and also going through the process, what do I do now as far as
> Pension Credit is concerned? nothing will change much as what we sold at
> and what we bought at was only five grand difference, by the time I have
> paid everybody and paid to move (about three grand), replaced the
> cooker, bed and a few other items there wont be much left of the five
> grand surplus,
>
You are allowed up to £6,000 savings without it affecting your pension
credits, which is set to rise to £10,000 in November, so the excess cash
should not be a problem.

"Harry Stottle" <> wrote in message
news:n8zpm.123788$2...
> "Terence Lynock (MSW)" <> wrote in message
> news:...
>> Hi folks,
>> house is sold going through the legal process, new place
>> is bought and also going through the process, what do I do now as far as
>> Pension Credit is concerned? nothing will change much as what we sold at
>> and what we bought at was only five grand difference, by the time I have
>> paid everybody and paid to move (about three grand), replaced the
>> cooker, bed and a few other items there wont be much left of the five
>> grand surplus,
>>
> You are allowed up to £6,000 savings without it affecting your pension
> credits, which is set to rise to £10,000 in November, so the excess cash
> should not be a problem.

That is for pension credit. Are the savings limits being increased for
housing and council tax benefits in line.

Bill

>

"Bill" <> wrote in message
news:...
>
> "Harry Stottle" <> wrote in message
> news:n8zpm.123788$2...
>> "Terence Lynock (MSW)" <> wrote in message
>> news:...
>>> Hi folks,
>>> house is sold going through the legal process, new place
>>> is bought and also going through the process, what do I do now as far as
>>> Pension Credit is concerned? nothing will change much as what we sold at
>>> and what we bought at was only five grand difference, by the time I have
>>> paid everybody and paid to move (about three grand), replaced the
>>> cooker, bed and a few other items there wont be much left of the five
>>> grand surplus,
>>>
>> You are allowed up to £6,000 savings without it affecting your pension
>> credits, which is set to rise to £10,000 in November, so the excess cash
>> should not be a problem.
>
> That is for pension credit. Are the savings limits being increased for
> housing and council tax benefits in line.
>
It is just for pension credits, no savings disregard increases for other
benefits as far as I am aware.

In message <ssOpm.6578$2>, Harry Stottle
<> writes
>"Bill" <> wrote in message
>news:...
>>
>> "Harry Stottle" <> wrote in message
>>news:n8zpm.123788$2...

<SNIP>

>>> You are allowed up to £6,000 savings without it affecting your
>>>pension credits, which is set to rise to £10,000 in November, so the
>>>excess cash should not be a problem.
>>
>> That is for pension credit. Are the savings limits being increased
>>for housing and council tax benefits in line.
>>
>It is just for pension credits, no savings disregard increases for
>other benefits as far as I am aware.

No.

The lower capital limits for Pension Credit, Housing Benefit for those
aged 60 and over, and Council Tax Benefit for those aged 60 and over ALL
rise to £10,000 with effect from 2 November 2009.

http://www.opsi.gov.uk/si/si2009/uksi_20091676_en_1

Clive
--
Clive Martin
my email address is cliveatcmartindotdemondotcodotuk

"Clive Martin" <> wrote in message
news:bKnYNkC+...
> In message <ssOpm.6578$2>, Harry Stottle
> <> writes
>>"Bill" <> wrote in message
>>news:...
>>>
>>> "Harry Stottle" <> wrote in message
>>> news:n8zpm.123788$2...
>
> <SNIP>
>
>>>> You are allowed up to £6,000 savings without it affecting your pension
>>>> credits, which is set to rise to £10,000 in November, so the excess
>>>> cash should not be a problem.
>>>
>>> That is for pension credit. Are the savings limits being increased for
>>> housing and council tax benefits in line.
>>>
>>It is just for pension credits, no savings disregard increases for other
>>benefits as far as I am aware.
>
> No.
>
> The lower capital limits for Pension Credit, Housing Benefit for those
> aged 60 and over, and Council Tax Benefit for those aged 60 and over ALL
> rise to £10,000 with effect from 2 November 2009.
>
> http://www.opsi.gov.uk/si/si2009/uksi_20091676_en_1
>
Thanks for that Clive, I am now aware :-)

"Clive Martin" <> wrote in message
news:bKnYNkC+...
> In message <ssOpm.6578$2>, Harry Stottle
> <> writes
>>"Bill" <> wrote in message
>>news:...
>>>
>>> "Harry Stottle" <> wrote in message
>>> news:n8zpm.123788$2...
>
> <SNIP>
>
>>>> You are allowed up to £6,000 savings without it affecting your pension
>>>> credits, which is set to rise to £10,000 in November, so the excess
>>>> cash should not be a problem.
>>>
>>> That is for pension credit. Are the savings limits being increased for
>>> housing and council tax benefits in line.
>>>
>>It is just for pension credits, no savings disregard increases for other
>>benefits as far as I am aware.
>
> No.
>
> The lower capital limits for Pension Credit, Housing Benefit for those
> aged 60 and over, and Council Tax Benefit for those aged 60 and over ALL
> rise to £10,000 with effect from 2 November 2009.
>
> http://www.opsi.gov.uk/si/si2009/uksi_20091676_en_1
>
> Clive

Thanks Clive for clarifying that.

bill

Terence Lynock (MSW) wrote:
> Hi folks,
> house is sold going through the legal process, new place
> is bought and also going through the process, what do I do now as far as
> Pension Credit is concerned? nothing will change much as what we sold at
> and what we bought at was only five grand difference, by the time I have
> paid everybody and paid to move (about three grand), replaced the
> cooker, bed and a few other items there wont be much left of the five
> grand surplus,
>
> regards. Terry

It's not just the £5k that's important, it's your total capital of you
and your ptr. If you have an Assessed Income Period then changes in
your capital during this period don't have to be declared. If you don't
and your total capital exceeds £6k then you do have to declare it even
if it subsequently drops due to reasonable expenditure.

Don't forget to advise the pension service of your new address and any
change in mortgage or service charges immediately. You can usually
report the change of address by telephone, 8-8pm mon-fri.

Mike