5k lump sum from private pension

berry61
berry61 Online Community Member Posts: 193 Contributor
in Universal Credit (UC)

Hello everyone,

Can I just ask if this rule still applies about taking a small lump sum from a pension pot. 2 years ago I was told that taking a small lump sum wouldnt affect U.C providing it doesn't take the total savings over the 6K limit, and also I was using it to pay of a debt which UC allow.

The money has gone into my account today and straight out again to pay the debt, and is within our assesment period for UC.

Do I need to tell UC on my journal or not ?

Thanks

Comments

  • OverlyAnxious
    OverlyAnxious Online Community Member Posts: 5,636 Championing

    Hi,

    The rules have not changed regarding this. There is no need to tell UC in this situation.

  • berry61
    berry61 Online Community Member Posts: 193 Contributor

    Thank you for that OverlyAnxious,

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