Can I Get PIP if I Have Savings?
Yes. You can claim Personal Independence Payment (PIP) if you have savings.
Yes. You can claim Personal Independence Payment (PIP) if you have savings.
There is no savings limit for PIP.
PIP is not means-tested, which means your entitlement is not based on how much money you have in savings or investments.
What matters is how your long-term health condition or disability affects your daily living and mobility.
Is there a maximum amount of savings I can have?
No.
Unlike some means-tested benefits, PIP does not have a £6,000 or £16,000 savings threshold.
Those figures are associated with benefits such as Universal Credit.
They do not apply to PIP.
You could potentially qualify for PIP whether you have:
- no savings
- a small amount of savings
- substantial savings
- investments
- a relatively high household income
Your financial position does not determine whether you meet the PIP assessment criteria.
Why doesn’t PIP take savings into account?
PIP has a different purpose from benefits designed to support people because they have a low income.
It is intended to help with the additional costs associated with living with a long-term health condition or disability.
The assessment therefore concentrates on how your condition affects particular activities rather than asking whether you can financially afford to manage those difficulties yourself.
Does my income affect PIP?
No.
PIP is not based on your income either.
You can potentially receive PIP if you:
- work full-time
- work part-time
- are self-employed
- receive a pension
- have other income
- have a partner who works
There is a separate MH360 guide explaining PIP and working in more detail.
Does my partner’s money affect my PIP?
No.
Your partner’s earnings and savings do not determine whether you qualify for PIP.
PIP is assessed on your own health condition or disability and how it affects you.
This is different from household means-tested benefits, where a partner’s finances can be relevant.
What if I own my home?
Owning your home does not prevent you from claiming PIP.
Whether you rent, have a mortgage or own your home outright is not what determines PIP entitlement.
Again, the assessment is about the effect of your condition on the activities covered by PIP.
What if I receive an inheritance?
Receiving an inheritance does not in itself stop PIP because PIP is not means-tested.
However, an inheritance could affect other benefits you receive if those benefits take savings or capital into account.
If you receive a significant amount of money and claim several benefits, it is sensible to check each benefit separately.
Do not assume that because the money does not affect PIP, it cannot affect anything else.
What about compensation or another lump sum?
The same distinction is important if you receive compensation, a redundancy payment, an insurance payment or another lump sum.
Your savings do not determine your entitlement to PIP.
But the money may potentially affect other means-tested benefits.
Different types of payments can also be treated differently under benefits rules.
If you receive a substantial lump sum while claiming other benefits, check the rules that apply to those benefits or seek advice.
Why do people confuse PIP with Universal Credit?
Both benefits may be relevant to somebody living with a health condition or disability, but they work very differently.
PIP
looks at how your condition affects particular daily living and mobility activities.
It is not means-tested.
Universal Credit
helps with living costs for people who meet its eligibility rules.
It is means-tested, so household income and capital can affect entitlement.
Some people can receive both PIP and Universal Credit at the same time.
Can I claim PIP if I have savings but no income?
Potentially, yes.
Again, PIP does not depend on whether you need income replacement.
The important questions concern how your health condition or disability affects you.
However, if you have little or no income, it may also be worth completing a wider benefits check.
There may be other support available in addition to PIP.
Should I spend my savings before claiming PIP?
No.
There is no requirement to reduce your savings before making a PIP claim.
If somebody tells you that you need to have less than a particular amount in the bank before you can claim PIP, they may be confusing PIP with a means-tested benefit.
Do not deliberately spend or move money because you believe it will improve a PIP claim.
Your savings are not part of the PIP eligibility assessment.
What does PIP look at instead?
PIP considers how your condition affects specific areas of daily living and mobility.
This includes whether you need:
- assistance
- prompting
- supervision
- aids or appliances
It also considers whether relevant activities can be carried out reliably.
That can include whether you can do something:
safely
to an acceptable standard
repeatedly
and
within a reasonable time period
There is a separate MH360 guide explaining these assessment principles in more detail.
What should I concentrate on when considering PIP?
Instead of thinking about your finances, ask:
How does my condition affect everyday activities?
Do I need help from another person?
Do I need prompting or supervision?
Do I use equipment or adaptations?
Can I carry out the activity safely and repeatedly?
Does it take me significantly longer?
How often do these difficulties affect me?
Those questions are much more relevant to PIP than the amount of money in your bank account.
Check your wider benefit entitlement separately
If you receive PIP alongside other benefits, do not assume that all of them have the same financial rules.
A change in savings may have no effect on PIP but could affect another benefit.
It can therefore be useful to think of your benefits separately:
Is this benefit means-tested?
Does it have savings or capital rules?
Do I need to report a change?
If you are unsure, check current information or speak to a benefits adviser.
MH360 Entitled can also help people explore their wider benefits and financial support.
7.18: What Is Personal Independence Payment (PIP)?
7.19: Can I Claim PIP if I’m Working?
7.21: Can I Claim PIP for a Mental Health Condition?
7.22: How Does PIP Look at How My Condition Affects Me?
7.23: What Happens at a PIP Assessment?
7.24: My PIP Claim Has Been Refused, What Can I Do Next?
7.25: What Is a PIP Mandatory Reconsideration?
7.26: How Do I Challenge a PIP Decision?
7.11: What Is Universal Credit?
7.17: I’ve Had a Change in Circumstances, Do I Need to Report It?
Important information
This guide provides general information and is not intended to provide benefits, financial, legal or other professional advice. PIP and other benefit rules can change, and individual circumstances can be different. Check current information from official sources or seek advice from an appropriately qualified benefits adviser before making important decisions.