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Old works pension and it's affect on IR benefits

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2 months 4 weeks ago #298415 by Gaddy
Hi mumsgirl,

The pension lump sum was transferred straight into my bank account from the pension company. I then wrote to the DWP with proof of the amount. As I was below the 6k threashold there were no stoppages to my ESA. If your account goes over 6k then it is called tarriff income and they adjust your ESA, £1 taken off for every £250 over 6k.

My advice would be to contact Pensionwise, you can book a free appointment online, hopefully you can get an explanation about what you can do with your particulat pension.

Good luck,

Gaddy

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2 months 4 weeks ago #298419 by David
Hi Gaddy,

Thanks for that useful information.
When you look for Pensionwise on the internet you find a lot of private companies masquerading as advice agencies. So be careful whom you give your details to.
Here is a link to the real Pensionwise---
www.moneyhelper.org.uk/en/pensions-and-retirement/pension-wise

David

Nothing on this board constitutes legal advice - always consult a professional about specific problems
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