× Members

Will private pension affect my UC or LCWRA?

Start
Prev
1
Next
End

Benefits and Work
Topic Author
Offline

2 days 22 hours ago #311566 by Benefits and Work

Will private pension affect my UC or LCWRA? was created by Benefits and Work

Hello
I receive Universal Credit (UC) and Limited Capability for Work Related Activity (LCWRA).

However I also have a private pension : Multi Asset Fund.
I set this up many years ago with Legal and General.
But haven't paid any more money into it for over 10 years.
Despite this the pension pot is £13K.

Otherwise I will have no other capital ( I have a Post Office emergency fund for a couple of grand).
I find I can save a some money due to a frugal home-based lifestyle.
So can I pay my savings into my private pension without losing the means-tested benefits of UC and LCWRA?

I do not expect to receive an income from the pension pot until I am 65 years old (that's what the pension statement says).

Please Log in or Create an account to join the conversation.

David
Offline

3 hours 32 minutes ago #311629 by David

Replied by David on topic Will private pension affect my UC or LCWRA?

Hi Benefits and Work

Firstly would you please change your user name from Benefits and Work as it will confuse other members regarding who you are.

Your £13k in the pension will not be counted as savings while you are under state pension age and you can continue making contributions to the pension from your Benefits assuming you are not employed without concern.

David

Nothing on this board constitutes legal advice - always consult a professional about specific problems

Please Log in or Create an account to join the conversation.

Start
Prev
1
Next
End

Moderators: Gordon, latetrain, BIS, Catherine12345, Chris, David, Keely, Jasmine

Will private pension affect my UC or LCWRA?

Information

Members

Terms of Use

PIP, ESA & UC are changing.

Don't get left behind!

Over 110,000 subscribers trust our FREE
fortnightly newsletter to keep them informed and prepared.