ESA, NI & medical pension

leemack

LindsayO wrote: »

i am lost by this equastion--my pension is 146 a week and say esa is 100 pounds--whats the answer lol

your pension is 146 pounds a week, take away 85 pounds leaves 61, divide by 2 gives £30.50, subtract that from 100, and you have £69.50

So if you are under 65 and retired on medical grounds then you should look into applying for ESA. Only don't trust my arithmetic, get someone lese to check it for you. I can't add 18 and 8[/QUOTE]

That sounds about right, though I can't find my calculator.

de1amo

what about savings--do i have to down pay my mortgage!

LindsayO

don't know what you mean by "down pay my mortgage", but they do take savings into account somehow, and you can't just use them to pay into a mortgage as that could count as deprivation of assets. So if you have savings they can reduce the amount of ESA that you are entitle to even if you pay them towards your mortgage

healy

LindsayO wrote: »

Sorry for the confusion everyone.
I'm 50 now and have 16 years NI contributions, so if I kept working for 15 more years till 65 and retired as normal I'd have 31 years of NI contributions

If I have to retire early due to ill health at say 52 I'd have 18 years NI contributions. I made two errors in what I said next, I thought that I'd only be eligible for 8 years of NI credits or until I was 60 (which was wrong I'd be eligible up to 65 or 13 years). I also added 18 and 8 together to get 36 (I should have said 26). If I had added correctly and if my eligibility for NI credits did stop at 60 then I would have had 4 missing years and it all would have made sense.


Sorry once again.

You will not get your NI paid after the state retirement age of 60 (it maybe 61 but it will not be 65).

de1amo

i am concluding in life that it never pays to save!!-the money is from an endowment designed to clear my mortgage but it has come up short!!-it was paid to me and not the mortgage account--the old İB could be claimed no matter how much you had in the bank!

healy

LindsayO wrote: »

don't know what you mean by "down pay my mortgage", but they do take savings into account somehow, and you can't just use them to pay into a mortgage as that could count as deprivation of assets. So if you have savings they can reduce the amount of ESA that you are entitle to even if you pay them towards your mortgage

If someone is receiving contribution based ESA savings are not taken into account. They can be used to pay the mortgage and it will not be deprivation of capital. They cannot reduce the amount of contribution based ESA someone has if someone has savings.

healy

de1amo wrote: »

i am concluding in life that it never pays to save!!-the money is from an endowment designed to clear my mortgage but it has come up short!!-it was paid to me and not the mortgage account--the old İB could be claimed no matter how much you had in the bank!

Contribution based ESA can be claimed no matter how much savings you have in the bank the same as IB, it has not changed.

LindsayO

healy wrote: »

You will not get your NI paid after the state retirement age of 60 (it maybe 61 but it will not be 65).

According to both my State Pension Forecast and the TPAS calculator its 65

healy

LindsayO wrote: »

According to both my State Pension Forecast and the TPAS calculator its 65

It would be if you were a man.

de1amo

i was confused by that--i know they are increasing the age for women but i think its for younger women!