Claiming benefits when pensions gone

claire76

My Dad is considering selling his small pension. Once his pension is gone will he be able to claim benefits to help him pay his rent ect...He is 60 and has paid full national insurance for his state pension. Thanks:)

missile

There seem to be a rash of first time posters. I wonder how many are genuine enquiries?

claire76

Hi, I am a first time poster, this is all new to me, but any helpful advice would be gratefully received....how do I prove I am genuine? Thanks

wilf55

better late than never is what i say welcome claire

sleepless_saver

Why does he think he can sell his pension?

McKneff

You cant sell a pension, not ever.
What made him think he could.

At the moment he could take 25% as a lump sum and iether convert the rest into a pension to take now or leave it to mature further and take a pension when he wants.

Depending how much is in the pension pot, if it is under around £18k
he could claim it all back under triviality rules but not until he is 65.

But a pension is taken for his retirement, its not something you can sell.

Is he on benefits now or does he work considering retirement age is not till the age of 65.

claire76

Hi, Thanks for reply...

He has recieved a private pension for the last 20 years...he is currently not working and lives off the pension...I've used incorrect terminology with 'selling' and mean release cash....If he released from it and received a smaller amount would he be eligible get help with his rent ect? The cash is for a land purchase to help one of his kids get a storage business going...

:wave:

Ps he gets some help with HB and CTax as he is in Sheltered housing.

McKneff

Im a bit confused, but as far as I'm aware once you have set up a pension thats it, you cannot get cash out of it.
Has he spoken to his pension provider.

Does he not get state pension, (yu still havent said how old he is)

missile

You might bet a better response on the Benefits and Tax Credits section

jem16

claire76 wrote: »

Hi, Thanks for reply...

He has recieved a private pension for the last 20 years...he is currently not working and lives off the pension...I've used incorrect terminology with 'selling' and mean release cash....If he released from it and received a smaller amount would he be eligible get help with his rent ect?

If the pension has been in force for 20 years the contract has already been drawn up and can't be changed.

What kind of pension is he receiving? Pensions can't normally be accessed until age 55 unless on ill-health grounds or similar.

jem16

McKneff wrote: »

Does he not get state pension, (yu still havent said how old he is)

OP said her dad was age 60 in the first post.