Pip and savings

Hi Strato,
If your savings from PIP payments derive from a back payment of arrears then there are different rules.
Firstly I am a little confused. Of you are entitled to means tested benefits such as Housing Benefit then you may be eligible for Pension Credit, and this is something to look into.

If you do get Pension Credit then the initial limit is £10,000. (Savings from any source up to this amount are disregarded.) There is no upper limit if in receipt of Pension Credit, however your benefit amount will reduce according to the amount of savings so there will come a point where so much is deducted nothing can be paid. However you haven't reached that point yet, so no need to worry. You get £1 ( its called notional income) deducted off benefit for each £500 in the bank.
Please seek advice from a specialist welfare benefits adviser and get a full benefits check done.
I hope this helps.
LL26