Saving into a private pension — Scope | Disability forum
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.
Please read our updated community house rules and community guidelines.

Saving into a private pension

Options
Molly22
Molly22 Community member Posts: 2 Listener
in Benefits and financial support
Hi. I am appointee for my adult daughter who gets ESA and PIP. 
Is it possible for her to save into a private pension while on benefits, would it be seen as deprivation of assets? I can't find any information about it online.
She is over the 6000 savings amount, only just, and DWP are aware, we send regular statements. 
Thank you
· Share on FacebookShare on Twitter

Comments

  • Albus_Scope
    Albus_Scope Posts: 4,322 Scope online community team
    Options
    Hi @Molly22 and welcome to the community. :)

    I'm afraid I'm not 100% sure of the answer to this, so I'm hoping one of our super regulars will be along shortly to answer. But I wanted to stop in and say hi. :)
    Albus (he/him)

    Online Community Coordinator @ Scope

    Concerned about another member's safety or wellbeing? Flag your concerns with us.
    Want to give us feedback? Complete our feedback form now.
    Opinions expressed are solely my own.
    Neurodivergent.
    · Share on FacebookShare on Twitter
  • poppy123456
    poppy123456 Community member Posts: 54,397 Disability Gamechanger
    Options
    Yes she can do this. If she doesn’t work or has earnings of less than £3,600/year then the most she can put into one per year is £2,880. More information here https://www.moneysavingexpert.com/savings/discount-pensions/#need-3
    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.
    · Share on FacebookShare on Twitter
  • Molly22
    Molly22 Community member Posts: 2 Listener
    Options
    Thank you
    · Share on FacebookShare on Twitter
  • OverlyAnxious
    OverlyAnxious Community member Posts: 2,627 Disability Gamechanger
    Options
    I'm also considering this but know nothing at all about pensions. 

    Does it matter what type of pension is used when claiming mains tested benefits?

    Is it ok to stop paying into the pension if circumstances change in future?  (Reduced income or increased outgoings)

    And lastly, are there any basic recommended companies for this?

    Unfortunately I can't read long blocks of text any more, so I didn't get far through the MSE webpage.  I'm wondering if would really be as simple as opening a pension with somewhere like Aviva and just having ~£200 automatically transferred into it each month?
    · Share on FacebookShare on Twitter

Brightness

Categories

Complete our feedback form and tell us how we can make the community better.

Do you need advice on your energy costs?


Scope’s Disability Energy Support service is open to any disabled household in England or Wales in which one or more disabled people live. You can get free advice from an expert adviser on managing energy debt, switching tariffs, contacting your supplier and more. Find out more information by visiting our
Disability Energy Support webpage.