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Income Based ESA and private pensions
- robin.ord14@btinternet.com
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4 years 8 months ago #250452 by robin.ord14@btinternet.com
Income Based ESA and private pensions was created by robin.ord14@btinternet.com
Would you know how occupational pensions are viewed by the DWP that are not in payment in the following situation :
1. A frozen final salary occupational pension from a previous employer that is not being taken, with a normal retirement date of 60, if this date is requested by me, to be deferred to age 67 in line with my state pension age.
Do the DWP deem that the normal retirement date is the date at which pension benefits can be taken or are you allowed to defer the pension, in other words if the pension is deferred is this classed as a deprivation of income or capital, bearing in mind the following :
1. Personal pension benefits can be taken from age 55 without penalty, as there is no set retirement date.
2. A company pension can be taken before normal retirement date, from age 55 albeit with a penalty
3. The government guidelines on the Pensionwise site show that all pensions are discounted whether company or personal that are not in payment up to state retirement age of 67, at which point they will be deemed to be in payment whether received or not.
So the point is, as I am on income related ESA am I allowed to defer the normal retirement date of the pension to age 67 without it affecting my ability to legally continue claiming income based ESA.
Many thanks
Robin
1. A frozen final salary occupational pension from a previous employer that is not being taken, with a normal retirement date of 60, if this date is requested by me, to be deferred to age 67 in line with my state pension age.
Do the DWP deem that the normal retirement date is the date at which pension benefits can be taken or are you allowed to defer the pension, in other words if the pension is deferred is this classed as a deprivation of income or capital, bearing in mind the following :
1. Personal pension benefits can be taken from age 55 without penalty, as there is no set retirement date.
2. A company pension can be taken before normal retirement date, from age 55 albeit with a penalty
3. The government guidelines on the Pensionwise site show that all pensions are discounted whether company or personal that are not in payment up to state retirement age of 67, at which point they will be deemed to be in payment whether received or not.
So the point is, as I am on income related ESA am I allowed to defer the normal retirement date of the pension to age 67 without it affecting my ability to legally continue claiming income based ESA.
Many thanks
Robin
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- Gordon
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4 years 8 months ago #250458 by Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic Income Based ESA and private pensions
Robin
Your pension pot should be disregarded until you reach what is called Pension Credit Age, this is the age that a woman born on the same day as you will reach State Retirement Age,
Gordon
Your pension pot should be disregarded until you reach what is called Pension Credit Age, this is the age that a woman born on the same day as you will reach State Retirement Age,
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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- robin.ord14@btinternet.com
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4 years 8 months ago #250461 by robin.ord14@btinternet.com
Replied by robin.ord14@btinternet.com on topic Income Based ESA and private pensions
Very good
Much appreciated Gordon
Thank you
Robin
Much appreciated Gordon
Thank you
Robin
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