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Severe Illness Pension Drawdown
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mikkir
Posts: 35 Forumite
My wife was diagnosed with a Motor Sensory Nueropothy disease, we have gone from both working 10 years ago to her being in a wheel chair and me being a full time carer. Her life expectancy is anyting from 10 to 20 years but as a result of the disease we find ourselves in debt. Can we cash in a small private pension of £3000 as one lump sum under the ill health rules and if so how much can we expect to get?
She is 45 yrs old.
Any input much appreciated.
Many thanks.
M
She is 45 yrs old.
Any input much appreciated.
Many thanks.
M
0
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Mods? Sorry this is in the wrong place, it should be under the pensions tag .
Anyway ive found the answer , due to my wife having a longer than 12 month life expectancy we DO NOT qualify under the government rules but DO qualify under the "trivial lump sum legislation" Hope this helps somebody.
https://www.pensionsadvisoryservice.org.uk/about-pensions/retirement-choices/the-right-choice-for-me/taking-a-small-pension-as-a-cash-lump-sum0
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