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Private Pension when claiming PIP and ESA
- emilys
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1 year 7 months ago #280296 by emilys
Private Pension when claiming PIP and ESA was created by emilys
Hi
Can anyone advise me on claiming my Private Pension. I am on PIP and ESA. I want to claim a lump sum of £6000 and a weekly sum of £35. Could you tell me if they can take any money off my Benefits please.
Thank You
Can anyone advise me on claiming my Private Pension. I am on PIP and ESA. I want to claim a lump sum of £6000 and a weekly sum of £35. Could you tell me if they can take any money off my Benefits please.
Thank You
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- LL26
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1 year 7 months ago #280308 by LL26
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by LL26 on topic Private Pension when claiming PIP and ESA
Hi emilys,
Pip is not means tested so receiving any money won't be a problem after all.
Are you on contributins based ESA or means tested?
Contributions ESA will not be affected by the lump sum and the weekly amount is too small to be taken into account.
For means tested ESA - occupational pensions paid regularly are normally taken into account in full.
Unless the £6,000 lump sum takes you over the absolute maximum of £16k when added to other savings or capital this shoukd be ok, over £6000, you will get £1 taken off ESA for each £250 over the £6k threshold.
However I woukd strongly urge that you seek advice from an independent wlqualifued pensions adviser ir beside taking out any pension. This can have enormous implications in the amount of your pension which could affect your finances for years to come.
I hope this helps.
LL26
Pip is not means tested so receiving any money won't be a problem after all.
Are you on contributins based ESA or means tested?
Contributions ESA will not be affected by the lump sum and the weekly amount is too small to be taken into account.
For means tested ESA - occupational pensions paid regularly are normally taken into account in full.
Unless the £6,000 lump sum takes you over the absolute maximum of £16k when added to other savings or capital this shoukd be ok, over £6000, you will get £1 taken off ESA for each £250 over the £6k threshold.
However I woukd strongly urge that you seek advice from an independent wlqualifued pensions adviser ir beside taking out any pension. This can have enormous implications in the amount of your pension which could affect your finances for years to come.
I hope this helps.
LL26
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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- emilys
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1 year 7 months ago #280309 by emilys
Replied by emilys on topic Private Pension when claiming PIP and ESA
H
Thank you for replying I am in the Support Group. I am in the Contribution based ESA. But I don't know if it's the means tested one. How could I tell which one I am in.
Thank you
Thank you for replying I am in the Support Group. I am in the Contribution based ESA. But I don't know if it's the means tested one. How could I tell which one I am in.
Thank you
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- Gordon
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1 year 7 months ago #280319 by Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic Private Pension when claiming PIP and ESA
emilys
If you are receiving any Premiums then you are receiving ESA(IR) at least in part.
Likely Premiums would be the Enhanced Disability Premium, which appears as the "Disability Income Guarantee" on the ESA entitlement letters, or the Severe Disability Premium which is listed as "money because you are severely disabled".
Just to clarify, the £6000 and £16,000 limits mentioned in LL26's post apply only to ESA(IR).
Gordon
If you are receiving any Premiums then you are receiving ESA(IR) at least in part.
Likely Premiums would be the Enhanced Disability Premium, which appears as the "Disability Income Guarantee" on the ESA entitlement letters, or the Severe Disability Premium which is listed as "money because you are severely disabled".
Just to clarify, the £6000 and £16,000 limits mentioned in LL26's post apply only to ESA(IR).
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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