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Hi, my name is glo45! My husband wants to withdraw 25% of his pension. Will I lose ESA?
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glo45
Community member Posts: 6 Listener
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 ?????
Comments
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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.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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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. -
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
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Sorry he is 55 so taking it early as I have cancer and he is my carer
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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.PIP and carers allowance are not affected.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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