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Hi, my name is glo45! My husband wants to withdraw 25% of his pension. Will I lose ESA?

glo45

Hi , my huband wants to withdraw 25% of his pension around 8 gran , to pay off bills , which will leave a few gran left , we are on esa surport with pip he is my carer , will I lose esa because of this ?????

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poppy123456

If any part of your ESA is Income Related then any savings of more than £6,000 will reduce your ESA by £1 for every £250 or part there of over that amount.

PIP and carers allowance are not affected.

Tori_Scope

Welcome to the community @glo45

How are you doing today?

I can see that poppy123456 has been able to get back to you on this. I hope that it's cleared that up for you a bit?

If you'd like to read more about lump sums and benefits, you might find this page on our website helpful to read.

glo45

OK so if my huband take 25%of his pension and puts rest in a draw down will we lose esa and pip and carers his pension is about 30 gran but will be 21 after 25%taken

glo45

Sorry he is 55 so taking it early as I have cancer and he is my carer

poppy123456

Any lump sum you take will be classed as savings, if this takes your combined savings over £16,000 then any Income Related ESA will end.

For savings of more than £6,000 this applies.

poppy123456 said:

If any part of your ESA is Income Related then any savings of more than £6,000 will reduce your ESA by £1 for every £250 or part there of over that amount.

If he takes a weekly/monthly amount then this will reduce any Income Related ESA £1 for £1 so there would be no point in doing this.

PIP and carers allowance are not affected.

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