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Will my pension affect tax credits?

sdelvesdelve Member Posts: 1 Listener
edited April 2018 in Finances and extra costs
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.


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Replies

  • JennysDadJennysDad Member Posts: 2,308 Pioneering
    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
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  • steve51steve51 Member Posts: 7,175 Disability Gamechanger
    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.
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  • CockneyRebelCockneyRebel Member Posts: 5,257 Disability Gamechanger
    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
    Be all you can be, make  every day count. Namaste
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