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).
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
