Draw down lump sum from pension

robbo2000
robbo2000 Online Community Member Posts: 32 Contributor
in Universal Credit (UC)

We want to go on holiday

Will cost £2000 to Greece

Planning to take the money from my pension as a lump sum

It will hit my account and then go out 2 days later to pay for the holiday

How will this affect our UC claim?

Comments

  • OverlyAnxious
    OverlyAnxious Online Community Member Posts: 5,742 Championing

    As long as it isn't in your account on the final day of your payment period then it won't affect savings/capital.

    As it is only a single lump sum, it should not be treated as income for UC purposes either.

  • robbo2000
    robbo2000 Online Community Member Posts: 32 Contributor

    that’s great - thank you

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