Pension and ESA
Options
pze1
Community member Posts: 2 Listener
Hi, first post, I was pointed in this direction from a phone call to scope. Does anybody know how my wife's contribution based ESA could be affected by taking the 25% tax free of her pension? She's also in the support group. The remaining 75% would be reinvested in a pension fund so there wouldn't be any regular earnings but more an added income for that tax year. The money would be used to buy a car and doing some things around the house so wouldn't be added to savings for very long. Hope this all makes sense and TIA for any advice
Comments
-
afternoon @pze1 how are you today? Contribution based benefits would not be affected by taking 25% of the pension (I assume she is over 55?), would be a good idea for her to contact "pension wise" for advice.
https://www.pensionwise.gov.uk/en?gclid=CjwKCAjwxuuCBhATEiwAIIIz0Q4SOYZS6i1QXhXDD6vZ9WXtwizPukK8YlVrRgUgYz166bY2V3s1rxoCma4QAvD_BwE&gclsrc=aw.ds
2024 The year of the general election...the time for change is coming 💡 -
It would be treated as capital and capital has no impact on contribution based ESAInformation I post is for England unless otherwise stated. Rules may be different in other parts of UK.
-
Thankyou very much
-
Wishing you a very warm welcome to the community @pze1
Good to hear that someone from Scope pointed you our way, I hope the above information has been helpful for you.Online Community CoordinatorConcerned about another member's safety or wellbeing? Flag your concerns with us.
Did you receive a helpful reply to your discussion? Fill out our feedback form and let us know about it. -
I have been on contributory ESA for many years, left work due to ill health and took a lump sum and pension. I have at last this year become eligible for my state pension. Even before I received my first mths state pension I had a letter from HRMC to inform me I would be over the tax threshold and will once again become a tax payer!! We have though just found out that as my hubby doesn’t pay tax I can pinch some of his tax code so things may not be as bad as it sounds!!!!
-
@pze1, hello and welcome. As for having some of your husbands tax allowance have you claimed the married allowance if not it can be back dated a few years other wise I think you can only claim £1250 tax allowance from your hubby / partner. Every little helps.
Brightness
Categories
- All Categories
- 13K Start here and say hello!
- 6.6K Coffee lounge
- 69 Games lounge
- 385 Cost of living
- 4.3K Disability rights and campaigning
- 1.9K Research and opportunities
- 199 Community updates
- 9.2K Talk about your situation
- 2.1K Children, parents, and families
- 1.6K Work and employment
- 768 Education
- 1.7K Housing and independent living
- 1.4K Aids, adaptations, and equipment
- 586 Dating, sex, and relationships
- 363 Exercise and accessible facilities
- 737 Transport and travel
- 31.7K Talk about money
- 4.4K Benefits and financial support
- 5.2K Employment and Support Allowance (ESA)
- 17.1K PIP, DLA, and AA
- 4.9K Universal Credit (UC)
- 6.2K Talk about your impairment
- 1.8K Cerebral palsy
- 869 Chronic pain and pain management
- 180 Physical and neurological impairments
- 1.1K Autism and neurodiversity
- 1.2K Mental health and wellbeing
- 317 Sensory impairments
- 818 Rare, invisible, and undiagnosed conditions
Do you need advice on your energy costs?
Scope’s Disability Energy Support service is open to any disabled household in England or Wales in which one or more disabled people live. You can get free advice from an expert adviser on managing energy debt, switching tariffs, contacting your supplier and more. Find out more information by visiting our
Disability Energy Support webpage.