Lost pension lump sum — Scope | Disability forum
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Lost pension lump sum

Ian56
Ian56 Community member Posts: 1 Listener
in Benefits and financial support
Hi
   I’m getting a £8000 lump sum from a lost pension ,how will this affect my joint universal credit . Thanks in advance 
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Comments

  • poppy123456
    poppy123456 Community member Posts: 49,593 Disability Gamechanger
    It will be classed as savings. For every £250 or part there of over £6,000 there’s a £4.35/month deduction in your UC. 
    If you have any debt to pay off then you can do this without it affecting your 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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  • Hannah_Scope
    Hannah_Scope Posts: 5,879 Disability Gamechanger
    Hello @Ian56

    Welcome to the community! :) I see Poppy has helped with your query, how are you keeping? 
    Hannah - She / Her

    Online Community Coordinator @ Scope

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  • 2oldcodgers
    2oldcodgers Posts: 640 Connected
    edited May 17
    Ian56 said:
    Hi
       I’m getting a £8000 lump sum from a lost pension ,how will this affect my joint universal credit . Thanks in advance 
    When you say 'lost' do you mean that you had forgotten about it? I too have a 'lost' pension pot worth about £3000. It had moved through 4 companies to Aviva before I found it a few years back. They sent me a huge amount of forms to fill in to claim it. I then found out that I could have been getting a pension from it for the past 19 years. Anyhow, how did you manage trying to work out how much was left of your lifetime percentage allowance so as to make it worth claiming? Not knowing what my figure was I gave up and didn't bother any further.
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