If I withdraw some of my private pension to pay off some of my mortgage, will my ESA be impacted? — 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.

If I withdraw some of my private pension to pay off some of my mortgage, will my ESA be impacted?

riabla
riabla Member Posts: 2 Listener
If I withdraw a lump sum from a private pension to pay off some of my mortgage, will this affect my contributory ESA payments?
Thank you 

Tagged:

Comments

  • woodbine
    woodbine Member, Community Co-Production Group Posts: 7,760 Disability Gamechanger
    hi @riabla and a warm welcome to scope, if your ESA is just cont.based with no income related top up then it won't be affected but as ESA cont.based is taxable there may be tax implications if you are taking more than 25% of your pension pot, I assume you are over 55?
    You could get free advice from pension wise
    Be extra nice to new members.
  • riabla
    riabla Member Posts: 2 Listener
    Thank you woodbine for your warm welcome and advice.

Brightness

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.