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Private pension at 60 if on uc pip and new style esa
- Vicks123
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1 day 18 hours ago #314527 by Vicks123
Private pension at 60 if on uc pip and new style esa was created by Vicks123
Hello I spoke to Cotizens Advice and they were not helpful, I would like to know that if you’re on UC, PIP, and new style ESA ( was on legacy benefits before), and as I’m approaching 60 I have been given the choice of either taking out a small old work pension of roughly £90 a month, or a lump sum roughly around £4.5-£5k the most and have reduced pension paid monthly to around £60. I have credit card debts and would like to take the lump sum and on the day I receive the money pay off my debts straight away. Would this be ok, or be classed as hiding the money, although I will have proof I paid directly to the credit cards?
Secondly the small pension I will receive would my benefits go down by the same amount? My transitional money has and I am now worse of by £32 pm since it increased in April I was told to ring UC by citizens advice but I don’t want to incase it triggers them. Sorry for the long post but I need to decide and the pension wise havnt helped either
Thanks
Secondly the small pension I will receive would my benefits go down by the same amount? My transitional money has and I am now worse of by £32 pm since it increased in April I was told to ring UC by citizens advice but I don’t want to incase it triggers them. Sorry for the long post but I need to decide and the pension wise havnt helped either
Thanks
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- David
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3 hours 35 minutes ago #314539 by David
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by David on topic Private pension at 60 if on uc pip and new style esa
Hi Vicks123
We cannot give bespoke financial advice. You probably used the Citizens Advice phone service and was answered by a generalist adviser. You would be better off contacting a local office and getting a face to face appointment. If Citizens Advice is unable to offer this service try Community Money Advice or equivalent.
Yes you could pay off your debts on the same day as receipt of the capital. But as long as you do it during the same Universal Credit Assessment Period that would work just as well.
Do you know your UC Assessment Period.
David
We cannot give bespoke financial advice. You probably used the Citizens Advice phone service and was answered by a generalist adviser. You would be better off contacting a local office and getting a face to face appointment. If Citizens Advice is unable to offer this service try Community Money Advice or equivalent.
Yes you could pay off your debts on the same day as receipt of the capital. But as long as you do it during the same Universal Credit Assessment Period that would work just as well.
Do you know your UC Assessment Period.
David
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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