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I've inherited my son's 2 pension pots. I'm worried it'll affect my ESA

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ros151
ros151 Community member Posts: 2 Listener
Hi I’m new to the group. I am in receipt of ESA, non-contribution based. I have inherited my sons two pension pots and will be receiving around £27,000 in total.(£22,000 and £5,700)

My concern is that the larger sum of £22,000 of  will be used to pay family debts and shared among my three remaining children.   This means that within Six months the largest part of this money will be gone.  

ESA is my only benefit. I am concerned about losing that and other benefits such as free prescriptions. I am on about 7 separate prescriptions a month and worried that i will not be able to afford them. 

I welcome any advice please. 


Comments

  • poppy123456
    poppy123456 Community member Posts: 57,031 Disability Gamechanger
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    If all of your ESA is Income Related then savings of more than £16,000 will mean there's no entitlement to any means tested benefits.
    This will also include any other means tested benefits you may also be claiming like housing benefit and council tax reduction. All local authorities have their own rules for savings limit with council tax reduction and some have a maximum limit of £6,000.
    If you give your money away then this could be seen as deprivation of capital and you would still be classed as having the money.
    As soon as the money goes into your bank you must report the changes.
    I would appreciate it if members wouldn't tag me please. I have all notifcations turned off and wouldn't want a member thinking i'm being rude by not replying.
    If i see a question that i know the answer to i will try my best to help.
  • calcotti
    calcotti Community member Posts: 10,010 Disability Gamechanger
    edited March 2022
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    Are you inheriting the money or are you inheriting pension pots (money still in a pension fund).
    Your post refers to inheriting pension pots and if the money is still in a pension fund it will be ignored.
    If you are inheriting money then, as poppy says, going over £16,000 ends your means tested benefits. When the capital drops below £16,000 you may be able to claim Universal Credit but you may be treated as still having money you have given away. 
    Information I post is for England unless otherwise stated. Rules may be different in other parts of UK.
  • ros151
    ros151 Community member Posts: 2 Listener
    Options
    Thank you for both comments. I am considering allowing the larger amount to go into my sons account directly as he will be paying the debts on behalf of the family and managing that portion of the funds.  
    Will this make any difference to my eligibility.  

    Not trying to be dishonest- its just how it is. 

    Comments appreciated. Thnk you. 
  • poppy123456
    poppy123456 Community member Posts: 57,031 Disability Gamechanger
    Options
    If you were left that money in a will by your son then having it paid into your son's bank account will be seen as deprivation of capital and you'll be classed as still having that money.
    I would appreciate it if members wouldn't tag me please. I have all notifcations turned off and wouldn't want a member thinking i'm being rude by not replying.
    If i see a question that i know the answer to i will try my best to help.
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