Private pension

Somerset · February 23

Hello, I claim UC with my husband he gets State penison which is taking off us. We have no savings. I have a private pension I want to take out a small amount as a one off it will be under the £6k amount. Will this effect us?

TThanks

Rachel_Scope · February 24

Hi @Somerset. Here's some information about lump sum payments:

"A lump sum is any one-off payment you receive. This can be any amount of money. Lump sums and one-off payments are treated as capital rather than income."

"A one-off pension payment would count as capital, even if it is below the limits."

The lump sum would be counted along with any money, savings or investments you both own.

Private pension

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