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IR ESA, PIP & Secondary Pension
- scarley4
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6 years 2 weeks ago #218788 by scarley4
IR ESA, PIP & Secondary Pension was created by scarley4
Hi, I am on IR ESA, PIP and a carer for my daughter who lives with me. I have a secondary pension worth about £6,500 which will mature in January. If I take it as a lump sum will this affect any of my benefits? I also get reduced council tax and housing benefit. How much can I have in savings before any of this is affected. This amount would not be worth anything if I take as part of my pension which would be in another five years. Thanks for any help as I don't know what to do.
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6 years 2 weeks ago #218795 by Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic IR ESA, PIP & Secondary Pension
scarley
Your ESA(IR) will be affected, HB uses similar rules but will only be reduced if you lose your ESA(IR), see
Asset and savings rule for ESA(IR)
Gordon
Your ESA(IR) will be affected, HB uses similar rules but will only be reduced if you lose your ESA(IR), see
Asset and savings rule for ESA(IR)
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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6 years 2 weeks ago #218936 by scarley4
Replied by scarley4 on topic IR ESA, PIP & Secondary Pension
Thanks for that Gordon. Could I take part of it and re-invest the rest for when I reach pension age without these benefits being affected or is this not an option? I am in the support group for a long term chronic illness. Many thanks.
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6 years 2 weeks ago #218962 by Gordon
It would still be treated as an asset, just in a different form, for example; cash changed into an ISA.
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic IR ESA, PIP & Secondary Pension
scarley4 wrote: Thanks for that Gordon. Could I take part of it and re-invest the rest for when I reach pension age without these benefits being affected or is this not an option? I am in the support group for a long term chronic illness. Many thanks.
It would still be treated as an asset, just in a different form, for example; cash changed into an ISA.
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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