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Private pension.
- Bibberty
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1 year 9 months ago #285322 by Bibberty
Private pension. was created by Bibberty
I am on ESA and PIP and need to help a close family member in financial trouble. Will I be able to give them some money from this as I have no other surplus income, or will I be penalised. I hope this question is allowed and if not can anyone signpost me in the right direction?
Much appreciated for all your time and help.
Ann.
Much appreciated for all your time and help.
Ann.
- latetrain
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1 year 9 months ago #285331 by latetrain
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by latetrain on topic Private pension.
Hi Bibberty
Welcome to the forum.
You might want to have a look at the following FAQ which explains where everything is; www.benefitsandwork.co.uk/guides-for-claimants/faq/forum.
It is your money, you can do what you like with it, if you are talking about savings, providing your savings are under £6k then it should not be a problem, if you have savings over £6k and you lend/give away money to bring your savings under £6k then that may cause an issue.
I had a client a few years ago who gave relatives in Jamaica a few thousand pounds as they were hit by a hurricane, this was allowed, but questions were asked.
Gary
Welcome to the forum.
You might want to have a look at the following FAQ which explains where everything is; www.benefitsandwork.co.uk/guides-for-claimants/faq/forum.
It is your money, you can do what you like with it, if you are talking about savings, providing your savings are under £6k then it should not be a problem, if you have savings over £6k and you lend/give away money to bring your savings under £6k then that may cause an issue.
I had a client a few years ago who gave relatives in Jamaica a few thousand pounds as they were hit by a hurricane, this was allowed, but questions were asked.
Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems
The following user(s) said Thank You: Bibberty
- Bibberty
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1 year 8 months ago #286316 by Bibberty
Replied by Bibberty on topic Private pension.
Thank you for replying and sharing this information.
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