Results 1 to 2 of 2
  1. #1
    Question submitted via Daily Express newspaper
    Join Date
    Jul 2008

    Would a gift from a relative affect my benefits?

    I am a pensioner aged 87, on pension credit and attendance allowance. If a relative was to give me a gift of a few thousand pounds would it affect what I receive? If so, how much am I allowed to have in savings before my benefits can be taken away?

    Mrs Marion Brown

  2. #2
    Financial Journalist
    Join Date
    Feb 2009
    Blog Entries
    Dear Mrs Brown

    It wouldn't affect your Attendance Allowance which is a non mean tested benefit. It also shouldn't affect your Pension Credit, however you do need to check something to be sure. When you were awarded Pension Credit you would have been given something called an "assessed income period" - this is a period of time during which, if you have any changes to your financial circumstances, you do NOT have to report them back to the Pension Service. When the assessed income period comes to an end then you do have to tell them and your Pension Credit could be adjusted or taken away altogether if you have received a windfall. However, the good news is that for anyone over 75 the assessed income period is normally indefinite in which case you don't have to tell them you have received some extra money, but you might want to just double check that this is the case. If you still have the paperwork from when you awarded Pension Credit that should tell you. It is also worth mentioning that the first 10,000 of savings is ignored in the means test for Pension Credit anyway.

Similar Threads

  1. Does civil partnership affect our tax payments?
    By Daily Express in forum Daily Express - forum for readers
    Replies: 1
    Last Post: 9th May 2012, 01:20 PM
  2. How will taking my pension affect my tax position?
    By Daily Express in forum Daily Express - forum for readers
    Replies: 1
    Last Post: 24th September 2010, 11:37 AM
  3. Equitable members to get compensation for 'relative loss'
    By Batsman in forum Pensions and endowments
    Replies: 0
    Last Post: 12th May 2010, 04:26 PM
  4. Will the current crisis affect my pension?
    By Daily Express in forum Daily Express - forum for readers
    Replies: 1
    Last Post: 10th November 2008, 10:48 PM
  5. Does re-registering units affect distributions?
    By Evadne in forum Ask an expert
    Replies: 3
    Last Post: 29th April 2006, 08:42 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts