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Lump sum pension withdrawal

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berry61
berry61 Community member Posts: 94 Connected
edited June 4 in Universal Credit (UC)

Hi I posted the above question in march about private lump sum withdrawal, I am going to get this organised after this weekend as it takes about 2 to 3 weeks to draw down into my bank account.

Poppy123456 replied to the above at the time with some very good advice and I just want to clarify things before I do this action.

At the moment we have about £1500 in bank accounts, but on my UC details is states we have over £3k in accounts but that was the amount we had at the time of migration from WTC and this figure fluctuates during the month with direct debits etc. If I withdraw from my private pension what I need to pay my debt off which is approx £6K obviously this will take me over the savings limit for UC but as long as the pension lump sum goes in and out of my bank in my assessment period which is 26th to 25th each month it won't affect anything as debt payments are allowed. I will of course be able to prove this transaction if UC need me to.

Thanks for any help its just a big amount and it's worrying if I don't get it right and mess things up with UC.

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