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DWP check on savings

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11 years 1 month ago - 11 years 1 month ago #118845 by SuzB
DWP check on savings was created by SuzB
Can anyone tell me if the DWP can check to see if you have any savings if claiming any other benefit, and how that would affect me. My mother died recently and left me a small amount of cash and I don't know if I must declare it.

P.S. Thanks a lot for the reply to my last query, it helps a lot to k
now someone cares!
Last edit: 11 years 1 month ago by Puccalove.

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11 years 1 month ago #118846 by Puccalove
Replied by Puccalove on topic DWP check on savings
If you are on a means tested benefit and have savings of over £6000 you must declare it. This is regardless of whether the savings are held in cash or in the bank. This is a combined amount so if, for example, you had £5000 in the bank and £2000 in cash you would be over the threshold. They will deduct £1 a week for every £250 you have over the threshold. If you do not declare any savings over this threshold you are committing fraud. I believe they do look out for large sums of money going in or out of accounts and they cooperate with the banks over checking this.

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11 years 1 month ago #118847 by SuzB
Replied by SuzB on topic DWP check on savings
Okay, thanks for the advice. Good to know!

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  • AaronL
11 years 1 month ago #118848 by AaronL
Replied by AaronL on topic DWP check on savings
Also to add, if you are over the £6000 limit and have amounts deducted from your benefits payment, but at some point in the future you have below the £6000 limit it would be worth letting the DWP know so that they can stop making the deductions.

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11 years 1 month ago #118851 by SuzB
Replied by SuzB on topic DWP check on savings
Ok, Thanks for that!

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11 years 1 month ago #118853 by Gordon
Replied by Gordon on topic DWP check on savings
Sue

For completeness, there is also an upper capital limit, this varies for some benefits, but for ESA, IS and JSA (Income Related only) is £16,000, so if your total household savings and assets exceed this value then entitlement to the benefit ceases.

Gordon

Nothing on this board constitutes legal advice - always consult a professional about specific problems

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