Pension question

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1965zulu
1965zulu Online Community Member Posts: 9 Listener
Hi there
I look after my wife who has progressive
M.s
I claim carers,housing and income support.
I would like to take some money from my pension to get a car for my daughter to help me with my wife as now needs 24/7 care.i am worried that if I do this I will be excluded from benefits and would appreciate some advice   thanks


Comments

  • Adrian_Scope
    Adrian_Scope Posts: 11,754 Online Community Programme Lead
    Hi @1965zulu, welcome to the community. Taking money from your pension will affect any means tested benefits you receive, such as housing and income support. Citizens Advice have some information on their What you can do with your pension pot page. I would also suggest you get some free independent advice from Pension Wise.

    If you have any other questions, please don't hesitate to ask.
  • poppy123456
    poppy123456 Online Community Member Posts: 64,463 Championing
    Hi,

    Anything over £6,000 will affect means tested benefits £1 for every £250 over that amount. £16,000 and over and you won't be entitled to any means tested benefits. You should get expert advice before doing anything.
  • Matilda
    Matilda Online Community Member Posts: 2,592 Championing
    You could also phone Age UK helpline.

    Many dealers will give five years interest free credit on new. car purchases.