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Savings and ESA

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6 years 7 months ago #194937 by scousephilly
Savings and ESA was created by scousephilly
I am on Contribution based ESA in the support group. I want to cash in a pension to pay off all my credit cards. I would be cashing in approx £17000. Will this affect my ESA, or, is Contribution ESA protected from savings?

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6 years 7 months ago #194954 by Gordon
Replied by Gordon on topic Savings and ESA

scousephilly wrote: I am on Contribution based ESA in the support group. I want to cash in a pension to pay off all my credit cards. I would be cashing in approx £17000. Will this affect my ESA, or, is Contribution ESA protected from savings?


We can't give detailed financial advice on the forum so get face to face advice from a trained Welfare Rights advisor before proceeding, do an internet search for "welfare advice" with your postcode, town of county.

Providing you are only receiving ESA(CB) and your take the pension as a lump sum only then it should not effect your payments.

Gordon

Nothing on this board constitutes legal advice - always consult a professional about specific problems
The following user(s) said Thank You: caiti

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6 years 7 months ago #194960 by Strange
Replied by Strange on topic Savings and ESA
Contribution based ESA is unaffected by savings. If you have other benefits that are means tested though - Housing and CT benefit for example it will affect them.

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