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Contributory ESA and pension

  • medion4@live.co.uk
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7 years 3 weeks ago #182240 by medion4@live.co.uk
Contributory ESA and pension was created by medion4@live.co.uk
I receive contributory ESA and in the support group, also I am about to use my pension lump sum to pay off debt I have built up from not being able to work. I have chosen not to take my monthly pension and leave this for a later date in the future so it can grow. I assume something will flag at the tax office and information shared with DWP. So is this lump sum savings or are they going to include the pension you could have taken as an income?
Should I contact DWP to inform, its such a worry.
Thanks.

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7 years 3 weeks ago #182243 by Gordon
Replied by Gordon on topic Contributory ESA and pension

Catherine wrote: I receive contributory ESA and in the support group, also I am about to use my pension lump sum to pay off debt I have built up from not being able to work. I have chosen not to take my monthly pension and leave this for a later date in the future so it can grow. I assume something will flag at the tax office and information shared with DWP. So is this lump sum savings or are they going to include the pension you could have taken as an income?
Should I contact DWP to inform, its such a worry.
Thanks.


We can't give financial advice on the forum so I would get face to face advice from a trained advisor before proceeding. That said I would expect the lump sum to be treated as savings.

Gordon

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

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7 years 3 weeks ago #182261 by David
Replied by David on topic Contributory ESA and pension
I was in a similar position,ESA(CB) SG. Had Financial advisor who required assurance from DWP that Capital recieved would not affect benefit. I have a letter from JC+ stating " Any capital recieved has no effect on Contribution based ESA ". However be aware that any amount over your tax free lump sum will catch up with you.
This is my own experiance but I am not a financial advisor and your situation may be different

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