Hi, I recently received a 9 year sever disability payment, I immediately rang DWP to check it was correct and it was. I was assured that it would not be classed as capital/savings. A friend of mine suggested that after I was reassessed it may well be classed as savings. My stress levels are sever to say the least as I know if I call DWP I may get different answers from different people!
On my accompanying letter it says " This payment will not count towards the calculation of capital/savings that you hold", also " To be disregarded as capital from the date they are received for the remainder of the award to the income related benefit or until they are spent, whichever is sooner".
Last year I received a letter saying I was due reassessment but it would be delayed due to Covid. Does this assessment mean they will then consider the money as capital?
Pleased help a very confused and worried person who is unsure if I should quickly spend every penny or doesn't need to worry! I hope someone knows the answer because I don't.
thank you in anticipation
Kontiki