Hi. I have had a look online to find out if I need to declare my lump sum from my private pension if I am to claim national insurance based ESA. I know I need to give them my monthly pension income but I am unsure if I have to declare the lump sum. Does anyone have any experience of this or know whether I have to? Thanks in advance Marg.
Margaret wrote: Hi. I have had a look online to find out if I need to declare my lump sum from my private pension if I am to claim national insurance based ESA. I know I need to give them my monthly pension income but I am unsure if I have to declare the lump sum. Does anyone have any experience of this or know whether I have to? Thanks in advance Marg.
I'm afraid we cannot give detailed financial advice on the forum, you need to get face to face advice from a trained advisor, do an internet search for "welfare advice" with your postcode, town or county.
If you are only receiving Contribution Based ESA then your assets and savings will not effect your claim and there should be no requirement for you to notify the DWP of your savings.
Please be aware that ESA(CB) is taxable and there may have an impact on your tax status if you have a regular pension payment and you take a lump sum.
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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