Remaining politically neutral during General Election 2024
Under guidance from the Electoral Commission and Charity Commission, it's important that Scope remains politically neutral during General Elections.
While we understand that this period will see many passionate discussions, please make sure that your comments remain respectful of other people's opinions and keep to our online community house rules.
can someone assist me
Options
Comments
-
I agree, the only other thing I could find re: capital disregards is the value of any right to receive such a pension https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1182983/admh2.pdf ADM Chap H2 para H2046 but that would be in the future, so for now I can only see this as being viewed as capital. So putting monies into a SIPP, thinking of a separate bank/building society account, ISA, etc. would all be seen as deprivation of capital.
-
poppy123456 said:brokebutsober said:Hi, and thanks for the response.Can i ask more in regards to the pension account. I have a nationwide account so could i open an account there and if so what would happen should i need to pull the money out in an emergency.Im fine with waiting however long till you reach pension age but ideally i need to put the money somewhere so i can claim uc. It somehow feels so unfair after wprking and save all this time now i have to thro it away so i can stay afloat.Unfortunately you can’t just hide the money because DWP will eventually find out.A SIPP (self invested personal pension) are not bank accounts. See link https://www.moneyhelper.org.uk/en/pensions-and-retirement/pensions-basics/self-invested-personal-pensions
Do you qualify for New style ESA as per my advice above?
Iv got back into work a year and half ago but you state 2 years so i assume it wont be. I feel like im being penalised for being so frugal about money. But i will have a loot at the sipps account
-
poppy123456 said:I’m afraid that’s not correct in this case. It’s my understanding that brokebutsober is saving for their first home so the disregard doesn’t apply.It only applies when you’ve sold the home you currently live in and waiting to purchase another.In such a case capital can be disregarded for at least 6 months, longer if a decision makers decides it’s reasonable to do so.See link and scroll to H2119 and H2120
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1182983/admh2.pdfThey/Them, however they are no wrong pronouns with me so whatever you feel most comfortable with
Online Community Specialist
Concerned about another member's safety or wellbeing? Flag your concerns with us.
Want to give us feedback? Complete our feedback form now.
Opinions are my own, such as mashed potato being bad. -
brokebutsober said:poppy123456 said:brokebutsober said:Hi, and thanks for the response.Can i ask more in regards to the pension account. I have a nationwide account so could i open an account there and if so what would happen should i need to pull the money out in an emergency.Im fine with waiting however long till you reach pension age but ideally i need to put the money somewhere so i can claim uc. It somehow feels so unfair after wprking and save all this time now i have to thro it away so i can stay afloat.Unfortunately you can’t just hide the money because DWP will eventually find out.A SIPP (self invested personal pension) are not bank accounts. See link https://www.moneyhelper.org.uk/en/pensions-and-retirement/pensions-basics/self-invested-personal-pensions
Do you qualify for New style ESA as per my advice above?
Iv got back into work a year and half ago but you state 2 years so i assume it wont be. I feel like im being penalised for being so frugal about money. But i will have a loot at the sipps account- First contribution condition - in one of the last two complete tax years, you must have paid Class 1 or 2 contributions on relevant earnings at the lower earnings limit for at least 26 weeks. This means you must have worked for at least 26 weeks of the last two complete tax years; and
- Second contribution condition - in both of the last two complete tax years, you must have paid or been credited with, Class 1 or 2 contributions to the value of 50 times the lower earnings limit.
although is says contributions based ESA, New style ESA has the same criteria.
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. -
@Jimm_Scope no worries. Benefits are a minefield!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.
-
So i take it i either have to reduce my savings to meet universal credit or continue working with disability and save up for a house or flat. I cant open any pension because it may be deprivation of capital so i think the shared ownership is looking like the only option. I just dont want to get a shared ownership as that would involve paying rent and possible mortgage. The point of buying a place to live is so i dont pay rent. It would be easier if i could continue saving while on UC for a short while then get back working, it seems very hard to make this work.I know someone who has bought a home but has had her parents pay it and she hasnt worked as much. She now has a home and on UC. Iv worked so hard for all this but seems like its not enough
-
That's pretty much all you can do i'm afraid. When you have savings, it means you have the funds to support yourself and not claim a means tested benefit. Benefits are usually the minimum anyway.brokebutsober said:I know someone who has bought a home but has had her parents pay it and she hasnt worked as much. She now has a home and on UC. Iv worked so hard for all this but seems like its not enoughThere's always the ESA option, as i advised, you may qualify even though you've only worked for about the past 18 months. If you're entitled to SSP from your employer, you should consider claiming this first and the the ESA once that's ended. ESA can't be paid at the same time as SSP.Do also look at the links i posted regarding PIP.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.
Categories
- All Categories
- 13.2K Start here and say hello!
- 6.7K Coffee lounge
- 71 Games lounge
- 389 Cost of living
- 4.3K Disability rights and campaigning
- 1.9K Research and opportunities
- 203 Community updates
- 9.3K Talk about your situation
- 2.1K Children, parents, and families
- 1.6K Work and employment
- 780 Education
- 1.7K Housing and independent living
- 1.4K Aids, adaptations, and equipment
- 594 Dating, sex, and relationships
- 363 Exercise and accessible facilities
- 746 Transport and travel
- 32.1K Talk about money
- 4.5K Benefits and financial support
- 5.3K Employment and Support Allowance (ESA)
- 17.3K PIP, DLA, and AA
- 5.1K Universal Credit (UC)
- 6.3K Talk about your impairment
- 1.8K Cerebral palsy
- 875 Chronic pain and pain management
- 183 Physical and neurological impairments
- 1.1K Autism and neurodiversity
- 1.2K Mental health and wellbeing
- 317 Sensory impairments
- 822 Rare, invisible, and undiagnosed conditions
Complete our feedback form and tell us how we can make the community better.
If we become concerned about you or anyone else while using one of our services, we will act in line with our safeguarding policy and procedures. This may involve sharing this information with relevant authorities to ensure we comply with our policies and legal obligations.
Find out how to let us know if you're concerned about another member's safety.
Find out how to let us know if you're concerned about another member's safety.