Pension Credit - means tested.

[YellowDog]

The Pension Service has asked for verification of my income from my company
pension scheme. [NB: This has to do with 'pension credit' which is 'means
tested']. As my pension is paid into my bank, they wish to see my bank
statement for two consecutive months. I am prepared to let them have this
but, intend to cut out the "particulars" -not the figures- relating to the
amounts withdrawn (leaving the entire income details in tact) since I do not
think they should be allowed see my spending pattern. Any problems here?

I also hope to get a letter from my pension provider confirming the amount.

If anyone knows of a more appropriate group to ask the question I'd be
interested in that information.

Finally, PLEASE try to contain your replies to the question asked and not my
motives for not wishing them to see my spending habits. It is nothing more
than a matter of principle.

[Mike]

Post by YellowDog
The Pension Service has asked for verification of my income from my company
pension scheme. [NB: This has to do with 'pension credit' which is 'means
tested']. As my pension is paid into my bank, they wish to see my bank
statement for two consecutive months. I am prepared to let them have this
but, intend to cut out the "particulars" -not the figures- relating to the
amounts withdrawn (leaving the entire income details in tact) since I do not
think they should be allowed see my spending pattern. Any problems here?
I also hope to get a letter from my pension provider confirming the amount.
If anyone knows of a more appropriate group to ask the question I'd be
interested in that information.
Finally, PLEASE try to contain your replies to the question asked and not my
motives for not wishing them to see my spending habits. It is nothing more
than a matter of principle.
--
YellowDog

If your capital exceeds or has exceeded �5500 (�9500 if in res care)
since your date of claim or the last time they verified your savings,
the pension service will need to see the statement, copy and return it
to you. If your savings are below this and do not affect your
application then they need to see verification of the net amount of
your occupational pension so an original or certified statement with
the details of where your money is spent deleted is, in theory, OK or
even just a letter from the company paying it. I say in theory as
when you edit these details the DM may become suspicious and can then
demand (with justification) to see the original statement. This is a
debateable point but arrousing suspicion unecessarily can only cause
delays and frustration to you.

I used to visit customers and I often found amongst pensioners that
their bank statements revealed all kinds of things they hadn't
declared such as properties, accounts, pensions, maintenance even a
partner on a few occasions! Sometimes this was human error but
equally the reluctance or size of the ommision of some convinces me
they were deliberately hiding details.

And just to re-assure you, only the actaul figures are recorded
normally at the date of claim or a specific review date are recorded
and not how much you spend at ASDA or your sky subs. Even if the IT
was capable of storing the data the pension service has no time or
interest to store data which is irrelevant such as your spending
pattern. The copy is then filed and unless there is a problem with
your claim (such as they find you didn't declare something) will never
see the light of day again. It'll be in a box in a wharehouse with
hundreds of thousands of other boxes and will be destroyed approx
14mths after your claim goes dormant.

The only time how you've spent your money might become relevant is if
your savings drop significantly (over �1k pa is a reasonable
benchmark) during your claim and your savings exceeded �6k (�10k if in
residential care). Then the DM has to consider whether you have
intentionaly deprived (spent/given away) your savings to gain
additional PC. Statements, receipts and explanations are then req'd.
Provided you haven't actually given away the money and can prove
you've spent it to improve your lot (inc holidays, home/garden
improvements, furniture) then there is no problem.

Mike

[YellowDog]

Post by YellowDog
The Pension Service has asked for verification of my income from my company
pension scheme. [NB: This has to do with 'pension credit' which is 'means
tested']. As my pension is paid into my bank, they wish to see my bank
statement for two consecutive months. I am prepared to let them have this
but, intend to cut out the "particulars" -not the figures- relating to the
amounts withdrawn (leaving the entire income details in tact) since I do not
think they should be allowed see my spending pattern. Any problems here?
I also hope to get a letter from my pension provider confirming the amount.
If anyone knows of a more appropriate group to ask the question I'd be
interested in that information.
Finally, PLEASE try to contain your replies to the question asked and not my
motives for not wishing them to see my spending habits. It is nothing more
than a matter of principle.
--
YellowDog

If your capital exceeds or has exceeded £5500 (£9500 if in res care)
since your date of claim or the last time they verified your savings,
the pension service will need to see the statement, copy and return it
to you. If your savings are below this and do not affect your
application then they need to see verification of the net amount of
your occupational pension so an original or certified statement with
the details of where your money is spent deleted is, in theory, OK or
even just a letter from the company paying it. I say in theory as
when you edit these details the DM may become suspicious and can then
demand (with justification) to see the original statement. This is a
debateable point but arrousing suspicion unecessarily can only cause
delays and frustration to you.
I used to visit customers and I often found amongst pensioners that
their bank statements revealed all kinds of things they hadn't
declared such as properties, accounts, pensions, maintenance even a
partner on a few occasions! Sometimes this was human error but
equally the reluctance or size of the ommision of some convinces me
they were deliberately hiding details.
And just to re-assure you, only the actaul figures are recorded
normally at the date of claim or a specific review date are recorded
and not how much you spend at ASDA or your sky subs. Even if the IT
was capable of storing the data the pension service has no time or
interest to store data which is irrelevant such as your spending
pattern. The copy is then filed and unless there is a problem with
your claim (such as they find you didn't declare something) will never
see the light of day again. It'll be in a box in a wharehouse with
hundreds of thousands of other boxes and will be destroyed approx
14mths after your claim goes dormant.
The only time how you've spent your money might become relevant is if
your savings drop significantly (over £1k pa is a reasonable
benchmark) during your claim and your savings exceeded £6k (£10k if in
residential care). Then the DM has to consider whether you have
intentionaly deprived (spent/given away) your savings to gain
additional PC. Statements, receipts and explanations are then req'd.
Provided you haven't actually given away the money and can prove
you've spent it to improve your lot (inc holidays, home/garden
improvements, furniture) then there is no problem.
Mike

Thanks Mike for your comprehensive reply.