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Advice please - re company pension and CB ESA
- newcastle1949
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5 years 1 month ago #246691 by newcastle1949
SWEETHEART
Advice please - re company pension and CB ESA was created by newcastle1949
Hi Everyone
Hope you are all staying safe and again big thanks to Gordon and the team.
I am on contributions based ESA and i am 60 next week and plan on taking my company pension, i believe the 25 percent tax free lump sum will be ok but i will roughly receive 119 pounds per week from my company pension, which I believe some of my ESA will be deducted because of this? do i have to call the ESA people, not very good with making calls or do i write to them informing them, i know i will have to inform HMRC also, however i believe i will still be under the personal allowance tax bracket staying as a non tax payer, just all a bit daunting making sure i do the right thing.
Thanks for any advice you can give
Best Wishes
Sweetheart
Hope you are all staying safe and again big thanks to Gordon and the team.
I am on contributions based ESA and i am 60 next week and plan on taking my company pension, i believe the 25 percent tax free lump sum will be ok but i will roughly receive 119 pounds per week from my company pension, which I believe some of my ESA will be deducted because of this? do i have to call the ESA people, not very good with making calls or do i write to them informing them, i know i will have to inform HMRC also, however i believe i will still be under the personal allowance tax bracket staying as a non tax payer, just all a bit daunting making sure i do the right thing.
Thanks for any advice you can give
Best Wishes
Sweetheart
SWEETHEART
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5 years 1 month ago - 5 years 1 month ago #246709 by Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic Advice please - re company pension and CB ESA
Sweetheart
You can ring them but if you do follow it up with a letter explaining what you are receiving and when from, if you have a statement from your pension supplier include that, send it to the DWP office dealing with your claim their address will be on the latest letter that you have received about your ESA.
Either send it with a Tracked post so that you have proof of delivery or if you do not want to go to the Post Office, confirn with the DWP that they have received the letter, it usually takes nine days for a letter to reach the correct department.
There is an £85/week disregard for pension income followed by a £1/week disregard for every £3 £2 in excess.
Gordon
You can ring them but if you do follow it up with a letter explaining what you are receiving and when from, if you have a statement from your pension supplier include that, send it to the DWP office dealing with your claim their address will be on the latest letter that you have received about your ESA.
Either send it with a Tracked post so that you have proof of delivery or if you do not want to go to the Post Office, confirn with the DWP that they have received the letter, it usually takes nine days for a letter to reach the correct department.
There is an £85/week disregard for pension income followed by a £1/week disregard for every
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Last edit: 5 years 1 month ago by Gordon.
The following user(s) said Thank You: newcastle1949
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5 years 1 month ago #246747 by newcastle1949
SWEETHEART
Replied by newcastle1949 on topic Advice please - re company pension and CB ESA
Hi Gordon
As ever thanks so much i will follow your advice, so in layman's terms, after 85 pounds , for every 3 pounds over i will loose 1 pound of my ESA per week, sorry not very good at these things.
Sweetheart
As ever thanks so much i will follow your advice, so in layman's terms, after 85 pounds , for every 3 pounds over i will loose 1 pound of my ESA per week, sorry not very good at these things.
Sweetheart
SWEETHEART
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5 years 1 month ago #246752 by Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gary on topic Advice please - re company pension and CB ESA
Hi Sweetheart
Thanks for giving us the update.
Gary
Thanks for giving us the update.
Gary
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5 years 1 month ago #246753 by Gordon
Sorry spelling mistake, now corrected in my previous post.
So it is £1/week for every £2 (two) in excess.
£119 -
£85
====
£34 /
2
====
£17/week deduction
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic Advice please - re company pension and CB ESA
Sweetheart wrote: Hi Gordon
As ever thanks so much i will follow your advice, so in layman's terms, after 85 pounds , for every 3 pounds over i will loose 1 pound of my ESA per week, sorry not very good at these things.
Sweetheart
Sorry spelling mistake, now corrected in my previous post.
So it is £1/week for every £2 (two) in excess.
£119 -
£85
====
£34 /
2
====
£17/week deduction
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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