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- newcastle1949
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5 years 3 months ago #242954 by newcastle1949
SWEETHEART
Pension was created by newcastle1949
Hi Everyone
I am on CB ESA in the Support Group and i am considering taking my 25 percent tax free lump sum from my personal pension, i do not intend to take a monthly pension at the moment as i am aware it could affect my CB ESA, would the lump sum affect it? Do i have to inform the DWP if i do take the tax free lump sum.
Any help would be appreciated.
Best Wishes
I am on CB ESA in the Support Group and i am considering taking my 25 percent tax free lump sum from my personal pension, i do not intend to take a monthly pension at the moment as i am aware it could affect my CB ESA, would the lump sum affect it? Do i have to inform the DWP if i do take the tax free lump sum.
Any help would be appreciated.
Best Wishes
SWEETHEART
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- BIS
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5 years 3 months ago #242956 by BIS
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by BIS on topic Pension
Hi Sweetheart
Sorry but this is outside the scope of what we deal with within the forum. We are here to help people in relation to the information provided in the guides, but we aren’t able to give information on other issues such as pension advice. You really need to seek benefit advice.
BIS
Sorry but this is outside the scope of what we deal with within the forum. We are here to help people in relation to the information provided in the guides, but we aren’t able to give information on other issues such as pension advice. You really need to seek benefit advice.
BIS
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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- newcastle1949
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5 years 3 months ago #242986 by newcastle1949
SWEETHEART
Replied by newcastle1949 on topic Pension
Hi BIS
Thank you for your reply i thought i had seen somewhere on your forum previously regarding people taking their lump sum and being on CB Esa, i know it has been said prior, regarding the amount you could receive pension wise before it affects your CBESA but cannot remember the exact terminology.
Any one else have experience please
Best Wishes
Thank you for your reply i thought i had seen somewhere on your forum previously regarding people taking their lump sum and being on CB Esa, i know it has been said prior, regarding the amount you could receive pension wise before it affects your CBESA but cannot remember the exact terminology.
Any one else have experience please
Best Wishes
SWEETHEART
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- Gordon
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5 years 3 months ago #242993 by Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic Pension
Sweetheart
The first lump sum that you take should be treated as capital and therefore should have no effect on your ESA(CB), any regular payments and possibly and any second lump sum will be treated as pension income and may reduce your ESA(CB) depending on the amount.
There is an £85/week disregard followed by a £1/week deduction for every £2 in excess of the £85.
Gordon
The first lump sum that you take should be treated as capital and therefore should have no effect on your ESA(CB), any regular payments and possibly and any second lump sum will be treated as pension income and may reduce your ESA(CB) depending on the amount.
There is an £85/week disregard followed by a £1/week deduction for every £2 in excess of the £85.
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
The following user(s) said Thank You: newcastle1949
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