Will my pension affect tax credits?

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sdelve
sdelve Online Community Member Posts: 1 Listener
edited October 2021 in Benefits and income
Can I ask a question please.....I get the disability element of tax credits....I'm about to access a pension which has now matured...I'm 60. Will it affect my tax credits. If I choose drawdown, the first 25% is not taxable so I think that's ok but the rest is 75% taxable.


Comments

  • JennysDad
    JennysDad Online Community Member Posts: 2,290 Championing
    Hello @sdelve and a very warm welcome to you. Good that you have found us.
    You need to hear from one of our benefits and finances experts, and they will be in touch with you as soon as possible. Bear with us and keep in touch.
    Warmest best wishes to you,
    Richard
  • steve51
    steve51 Online Community Member Posts: 7,121 Championing
    Hi @sdelve

    Welcome my friend it’s great to meet you today.

    We have got some “Benefit Experts” on our website.

    I will ask them for you if that is ok???

    Hi @BenefitsTrainingCo

    Can you please help with this post???

    Many Thanks.
  • CockneyRebel
    CockneyRebel Online Community Member Posts: 5,188 Championing
    Hi sdelve and welcome

    You need to get trained financial advice before you do anything. Failure to do so could cost you a lot of money

    CR

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