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What is the savings cap with regards to the Support group ESA?

Norbs66

Hi All
I have a small pension from when I worked before my health deteriorated and I am registered disabled and in receipt of PIP at the enhanced rate and ESA I am in the support group. I am trying to decide what to do with regards to my pension and my question is what is the savings cap with regards to the Support group ESA?

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calcotti

What type of ESA is it? Contribution based, income based, a mix of both or new style ESA?

Savings have no impact on contribution based or new style ESA. For income based ESA there is deduction of £1/week for every £250, or part thereof, over £6,000. If you have over £16,000 there is no income based entitlement.

Money still held in a pension fund is ignored.

Norbs66

Sorry yes over 55 years. I am unable to work due to disability and in receipt of PIP and ESA support group.

poppy123456

If you don't know which ESA you're claiming then you can ring DWP and ask them.

calcotti

woodbine said:

Have you considered speaking to the govts. pension advisors at pension wise?
I found them to be really helpful when I used them

Out of interest, did you find that, as well as explaining your pension options, they understood the impact your pension decisions would have on your benefits?

Norbs66

The pension company advised me of the effects it may have on my benefit if I did decide to cash in. I have just found my ESA is income related

poppy123456

That means the advice from calcotti here applie..

calcotti said:

For income based ESA there is deduction of £1/week for every £250, or part thereof, over £6,000. If you have over £16,000 there is no income based entitlement.

Money still held in a pension fund is ignored.

Norbs66

Thank you everyone for clarifying this for me. I shall give it some thought as to what is my best way forward