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How much income before ESA affected?
- tigerblue
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5 years 4 months ago #222887 by tigerblue
How much income before ESA affected? was created by tigerblue
Hi
I have a pension fund which I can access as I’m 58 but obviously need to leave most of as can’t work.
Have taken a few smallish amounts out for emergencies and dwp know but have reinstated esa which they had stopped thinking I got the amoun monthly!
Can anyone tell me how much I’m allowed to take either in lump sums or regularly before it affects my ESA? I don’t want to have to do this as believe ill need all the pension possible but I’m finding it hard to do anything except exist, even looking after my cat is difficult financially.
Thanks for any input.
I have a pension fund which I can access as I’m 58 but obviously need to leave most of as can’t work.
Have taken a few smallish amounts out for emergencies and dwp know but have reinstated esa which they had stopped thinking I got the amoun monthly!
Can anyone tell me how much I’m allowed to take either in lump sums or regularly before it affects my ESA? I don’t want to have to do this as believe ill need all the pension possible but I’m finding it hard to do anything except exist, even looking after my cat is difficult financially.
Thanks for any input.
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- Gordon
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5 years 4 months ago #222895 by Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic How much income before ESA affected?
Chris
It depends on the type of ESA you are receiving;
If it is Contribution Based ESA then you can draw down any amount, it will only be an issue if it is a regular amount or period as this can mean that the DWP will treat it as income and this can reduce your ESA.
If it Income Related ESA then there are the same issues about it being treated as income, if it is then it will affect your ESA(IR). Also, you are limited in the amount that you can bring down if your total assets and savings exceed £6000 then there will be deductions from your ESA(IR).
Gordon
It depends on the type of ESA you are receiving;
If it is Contribution Based ESA then you can draw down any amount, it will only be an issue if it is a regular amount or period as this can mean that the DWP will treat it as income and this can reduce your ESA.
If it Income Related ESA then there are the same issues about it being treated as income, if it is then it will affect your ESA(IR). Also, you are limited in the amount that you can bring down if your total assets and savings exceed £6000 then there will be deductions from your ESA(IR).
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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- tigerblue
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5 years 4 months ago #223081 by tigerblue
Replied by tigerblue on topic How much income before ESA affected?
Thanks Gordon
I’m on contribution based. So does that mean I can take a few thousand to last me the year as long as not above £6k? I have just a few hundred at the moment but need a new fridge.
If so that’s very helpful to know.
C
I’m on contribution based. So does that mean I can take a few thousand to last me the year as long as not above £6k? I have just a few hundred at the moment but need a new fridge.
If so that’s very helpful to know.
C
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- Gordon
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5 years 4 months ago #223092 by Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic How much income before ESA affected?
CHris
If you are only receiving ESA(CB) then you can pull down as much as you want as your savings and assets will not affect your ESA.
Gordon
If you are only receiving ESA(CB) then you can pull down as much as you want as your savings and assets will not affect your ESA.
Gordon
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- tigerblue
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5 years 4 months ago #223156 by tigerblue
Replied by tigerblue on topic How much income before ESA affected?
Sorry Gordon, totally confusing myself! I am on contribution based but also get extra as no other income? I’ve got a redacted version of the form so wonder if here is a way to send that to the forum? If not I’ll just write out what it says.
Thanks again
Thanks again
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5 years 4 months ago #223189 by Gordon
Are you saying that your receive ESA(CB) with an ESA(IR) top-up, if so then the rules will be applied to the ESAIR) first and then to the ESA(CB), as explained in my earlier post.
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic How much income before ESA affected?
Chris wrote: Sorry Gordon, totally confusing myself! I am on contribution based but also get extra as no other income? I’ve got a redacted version of the form so wonder if here is a way to send that to the forum? If not I’ll just write out what it says.
Thanks again
Are you saying that your receive ESA(CB) with an ESA(IR) top-up, if so then the rules will be applied to the ESAIR) first and then to the ESA(CB), as explained in my earlier post.
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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