- Posts: 38
× Members
Pip backpayment
- madmanx
- Topic Author
- Offline
Less More
2 weeks 1 day ago #290191 by madmanx
Pip backpayment was created by madmanx
Hi I received a pip back payment for the social support thing, but I have a question what am I allowed to spend it on? I have seen a nice gold chain but don't know if I'm allowed to buy that as might be counted as capital?
Please Log in or Create an account to join the conversation.
- Catherine
- Offline
Less More
- Posts: 1174
2 weeks 13 hours ago #290217 by Catherine
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Catherine on topic Pip backpayment
Hi madmanx,
Well done on getting your award.
PIP is not subject to any form of means test and you can be swathed in gold and still be entitled to it. If however you are also getting a benefit which considers your capital, like for example UC, then you might need to be a little more cautious. Capital can be cash under the bed, in the bank or the value of the gold around neck. Check which benefits you are entitled to, and check the capital restrictions.
Whatever you do with it, I hope you enjoy your back payment.
Catherine
Well done on getting your award.
PIP is not subject to any form of means test and you can be swathed in gold and still be entitled to it. If however you are also getting a benefit which considers your capital, like for example UC, then you might need to be a little more cautious. Capital can be cash under the bed, in the bank or the value of the gold around neck. Check which benefits you are entitled to, and check the capital restrictions.
Whatever you do with it, I hope you enjoy your back payment.
Catherine
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Please Log in or Create an account to join the conversation.
- madmanx
- Topic Author
- Offline
Less More
- Posts: 38
2 weeks 12 hours ago #290229 by madmanx
Replied by madmanx on topic Pip backpayment
Yes I'm on uc as well, this is what I'm worried about, I've been told that the backpayment will be disregarded for a year as capital so if I was to buy a gold chain or something like that, then what after a year it becomes capital so I'd have to sell it and buy something else? So question is what can I buy with the backpayment that won't be classed as capital? Bit confused..
Please Log in or Create an account to join the conversation.
- Gary
- Offline
Less More
- Posts: 7308
2 weeks 11 hours ago #290243 by Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gary on topic Pip backpayment
Hi madmanx
When ever I am asked this by a client, I usually say buy a funeral plan. Funeral plans are now regulated, a few companies have recently gone under before they were regulated. If you do decide to go down this route, pay for the plan via a credit card then pay off your credit card, your payment is then protected by section 75 of the CCA for peace of mind.
Gary
When ever I am asked this by a client, I usually say buy a funeral plan. Funeral plans are now regulated, a few companies have recently gone under before they were regulated. If you do decide to go down this route, pay for the plan via a credit card then pay off your credit card, your payment is then protected by section 75 of the CCA for peace of mind.
Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Please Log in or Create an account to join the conversation.
- Catherine
- Offline
Less More
- Posts: 1174
1 week 6 days ago #290320 by Catherine
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Catherine on topic Pip backpayment
I agree with Gary about a funeral plan. You might also want to consider whether any major appliances are coming towards the end of their lives. If your washing machine only spins properly after being spoken to nicely this is the time to replace it.
Just make sure that you keep a record of any major items you spend money on, and ideally the receipts. The expenditure should be reasonable - so yes to to a washing machine, no to a world cruise.
Hope you get my drift,
Catherine
Just make sure that you keep a record of any major items you spend money on, and ideally the receipts. The expenditure should be reasonable - so yes to to a washing machine, no to a world cruise.
Hope you get my drift,
Catherine
Nothing on this board constitutes legal advice - always consult a professional about specific problems
The following user(s) said Thank You: C
Please Log in or Create an account to join the conversation.
Moderators: Gordon, Gary, BIS, Catherine, Wendy, Kelly, greekqueen, peter, Katherine, Super User, jimmck, Chris