What counts as savings for benefits

missapril75

Mojisola wrote: »

As you're only 31 you can't access your private pension. The money tied up in a pension scheme does not count as savings.

But it doesn't sound as if it is tied up other than the OP's desire not to touch it. It sounds like the OP is choosing to call it a pension as opposed to it actually being a pension.

I do have a private pension that I have been saving up over the years, which currently stands at £17,000 in capital. I cannot tell whether this is something I have to include in my 'household savings' - i.e. is it something I am expected to use and draw from to cover me in a period of no or low income, or is it something that is seen as exempt because it is savings for retirement.

That suggests it is something that can be drawn and is not officially something in a pension pot legally tied up until a qualifying age.

SkyandSun

missapril75 wrote: »

But it doesn't sound as if it is tied up other than the OP's desire not to touch it.



That suggests it is something that can be drawn and is not officially something in a pension pot legally tied up until a qualifying age.

Just to correct you here - it is a standard life pension that I have set up. It is an 'official' pension that I and my employer having been paying into each month. I just had not realised that it is typical that the money is unavailable until retirement.

[Deleted User]

there are circumstances under which a pensions would be avaliable under state retirement age but from what i read non of them apply in OPs case

missapril75

SkyandSun wrote: »

It is an 'official' pension that I and my employer having been paying into each month. I just had not realised that it is typical that the money is unavailable until retirement.

Fair enough then.

SuziQ

[I just am picky about what I apply for as I want it to be a job I will feel fulfilled in for the next few years, [/QUOTE]

Seriously, good luck with that! My daughter has a fantastic degree and would love to be doing a job she feels fulfilled in, but all she has been able to get is wimpy and McDonald's ( and to give her her due, she has taken both- she needs to earn and she is not too proud!)

My ex is highly experienced and regarded and has been unable to find a job in his field for over a year. Just remember, statistically, you have to attend many interviews before being successful, and you may need to brush up your interview technique if you haven't interviewed for a while- there are hundreds of hungry applicants for every job, even the ones you would find unfulfilling!

SkyandSun

SuziQ wrote: »

"I just am picky about what I apply for as I want it to be a job I will feel fulfilled in for the next few years, "

Seriously, good luck with that! My daughter has a fantastic degree and would love to be doing a job she feels fulfilled in, but all she has been able to get is wimpy and McDonald's ( and to give her her due, she has taken both- she needs to earn and she is not too proud!)

My ex is highly experienced and regarded and has been unable to find a job in his field for over a year. Just remember, statistically, you have to attend many interviews before being successful, and you may need to brush up your interview technique if you haven't interviewed for a while- there are hundreds of hungry applicants for every job, even the ones you would find unfulfilling!

For what it's worth, I have been offered and accepted a job that is a progression from the one I left, in terms of responsibility, working on the 'bigger picture', as well as salary (very slightly, but still). It also was pretty much the only job I felt I could do in the charitable/public sector - I was planning on a complete switch. I have negotiated every 2nd Friday off as well in return for coming in slightly earlier on all the other days. I haven't started yet but I have had the contract through in the post to sign.

As you may have gathered from my messages in this thread I don't accept second best (or another way of putting it, perhaps, is that I'm very picky). Life's too short, for me. I am in the position of accepting this job because I carefully considered and then decided I wanted to do it and it was the right move for me; if it wasn't something I couldn't see myself being stimulated and enjoying for, at the minimum, the next year, I wouldn't have accepted it and would have kept looking.

So I wanted to post this mainly to add a counter to the quoted post above, for anyone reading this - I guess it's easy to talk about the negative, because that's when we're most likely to need assistance or advice, but when things are going well maybe we just enjoy it and don't post on places like this so much. So I wanted to say it seems it is possible to find a job that you want, even in a poor economic climate. Listening but not agreeing with those who said I should hang on to the job I left even if I was increasingly miserable, I handed in my notice at my old job with a belief that I would find something better, somewhere that would feel like a progression and value who I am (let alone not threaten to make me ill!) - and I believe I have done.

I am happy about the job but mindful of the fact that not everyone is in this position. Still, wanted to make this post, being careful not to make it into a brag - I hope it doesn't come across as such. Fingers crossed the new job exceeds my expectations.

SkyandSun

SuziQ wrote: »

"I just am picky about what I apply for as I want it to be a job I will feel fulfilled in for the next few years,"

Seriously, good luck with that! My daughter has a fantastic degree and would love to be doing a job she feels fulfilled in, but all she has been able to get is wimpy and McDonald's ( and to give her her due, she has taken both- she needs to earn and she is not too proud!)

My ex is highly experienced and regarded and has been unable to find a job in his field for over a year. Just remember, statistically, you have to attend many interviews before being successful, and you may need to brush up your interview technique if you haven't interviewed for a while- there are hundreds of hungry applicants for every job, even the ones you would find unfulfilling!

For what it's worth, I have been offered and accepted a job that is a progression from the one I left, in terms of responsibility, working on the 'bigger picture', as well as salary (very slightly, but still). It also was pretty much the only job I felt I could do in the charitable/public sector - I was planning on a complete switch. I have negotiated every 2nd Friday off as well in return for coming in slightly earlier on all the other days. I haven't started yet but I have had the contract through in the post to sign.

As you may have gathered from my messages in this thread, I don't accept second best (or another way of putting it, perhaps, is that I'm very picky). Life's too short, for me. I am in the position of accepting this job because I carefully considered and then decided I wanted to do it and it was the right move for me; if I couldn't foresee (as much as it's possible to do so) myself being stimulated and enjoying this job, for the next year, at the minimum, and couldn't foresee it helping to make me happy for at least that same length of time, I wouldn't have accepted it and would have kept looking.

So I wanted to post this mainly to add a counter to the quoted post above, for anyone reading this - I guess it's easy to talk about the negative, because that's when we're most likely to need assistance or advice, but when things are going well maybe we just enjoy it and don't post on places like this so much. So I wanted to say it seems it is possible to find a job that you want, even in a poor economic climate. Listening but not agreeing with those who said I should hang on to the job I left even if I was increasingly miserable, I handed in my notice at my old job with a belief that I would find something better, somewhere that would feel like a progression and value who I am (let alone not threaten to make me ill!) - and I believe I have done.

I am happy about the job but mindful of the fact that not everyone is in this position. Still, wanted to make this post, being careful not to make it into a brag - I hope it doesn't come across as such. Fingers crossed the new job exceeds my expectations (and allows me the free time and space to pursue my more long-term career plan which is, broadly, creative writing!)