I'm receiving ESA and would like to take a lump sum of my benefits. Would this affect my payment?
lestim21
Online Community Member Posts: 1 Listener
Hi am receiving esa and I would like to take a lump some of my pension would this affect my payment
thank you
thank you
0
Comments
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It depends which ESA you’re claiming. If part of it is at least Income Related and you take a lump sum if this takes your total savings/capital to more than £16,000 then all means tested benefits will end.Savings of less than £6,000 are disregarded. For every £250 (or part there of) over £6,000 there’s a £1 per week deduction.
if all your ESA is contributions based/ New style then savings do not affect it.0 -
Welcome to the community @lestim21 Thanks for joining, and for asking your question.
Has poppy123456's advice helped you to understand how this may affect your ESA?0
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