Medical retirement
kane1994
Online Community Member Posts: 117 Contributor
Hi
I am currently on uc with limited capability to work and work related activity element as well as pip I'm currently awaiting a Dr letter to let my workplace pension know I can no longer work the full pension is £3400 if I took it all out as a lump sum would this affect my benefits?
I am currently on uc with limited capability to work and work related activity element as well as pip I'm currently awaiting a Dr letter to let my workplace pension know I can no longer work the full pension is £3400 if I took it all out as a lump sum would this affect my benefits?
0
Comments
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A pension lump sum will be classed as capital for UC. If this takes your total savings to more than £6,000 then there's a £4.35/month deduction for every £250 or part there of over £6,000. For savings of more than £16,000 entitlement to UC ends.If you take a weekly/monthly income from a pension then your UC will be reduced £1 for £1. I thought i advised you about this on another thread..0
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