Pension and Benefits — Scope | Disability forum
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Pension and Benefits

Northfleet70
Northfleet70 Scope Member Posts: 21 Listener
in Benefits and financial support
Afternoon

my private pension company have said that I can take early due to my I’ll health 

I currently get ESA contributions LWCRA and PIP

if I take a lump sum and start taking my pension will this effect my. E edits and how 

after any advise I’m 52 years old

Thank you
G
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Comments

  • calcotti
    calcotti Community member Posts: 10,011 Disability Gamechanger
    edited February 16
    PIP is not affected.

    If you take regular pension your contribution based ESA is reduced by half of anything over £85/week. The lump sum doesn’t affect the ESA.

    To check - is your ESA currently £117.60/week?
    Information I post is for England unless otherwise stated. Rules may be different in other parts of UK.
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  • poppy123456
    poppy123456 Community member Posts: 49,590 Disability Gamechanger
    calcotti said:

    To check - is your ESA currently £117.60/week?
    Yes, according to previous threads, they are also claiming UC which includes the LCWRA element.

    Northfleet, if you take a regular monthly/weekly income from the pension then it will reduce your UC £1 for £1, so in my opinion it's not worth taking any regular income as it wouldn't financially make any sense.

    Lump sums are treated as savings, so every £250 or part there of over £6,000 will reduce your UC by £4.35/month. Savings of more than £16,000 will end your entitlement to UC.

    I would appreciate it if members wouldn't tag me please. I have all notifcations turned off and wouldn't want a member thinking i'm being rude by not replying.
    If i see a question that i know the answer to i will try my best to help.
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  • calcotti
    calcotti Community member Posts: 10,011 Disability Gamechanger
    edited February 16
    Thanks, poppy. I hadn’t joined this up to previous threads and this question only refers to ESA. Right answer to the wrong question because UC was not mentioned!

    northfleet70, I agree with poppy that it makes no sense to get a regular pension while claiming UC because taking the pension will be no difference to your total income (unless the pension will be worth more than the UC you get).
    Information I post is for England unless otherwise stated. Rules may be different in other parts of UK.
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