Quit everything , and start again over 50?

enthusiasticsaver

harz99 wrote: »

There is another matter for AC to sort out, and that is state benefits, there must surely be something he can claim even if only short term or to keep up NI credits?

It's an area I have little or no up to date knowledge of so can't give any useful advice here, anybody?

I do not have a great deal of knowledge on this but AC will be exempt from some benefits due to the fact he left his job voluntarily and will have a significant amount of savings at least until he purchases his house/flat.

However, and I am looking into this for my brother who has multiple sclerosis I do wonder if he will be entitled to PIP due to his health condition. It depends on how much impact his health has on his ability to do a job - ie help with cost of taxis if he cannot walk far/need to work reduced hours or drive due to eye condition and need to rest.

A quick visit to the local jobcentre or phone call to local DSS office AC once you are sorted may be able to help. They can also advise on whether you should pay regular NI contributions to keep up pension entitlement until you get another job.

enthusiasticsaver

harz99 wrote: »

The NSI Bonds are a very good idea for short term, and the interest although miserly will at least pay for the storage costs!

Yes, unfortunately savings rates are really low at the moment and the only accounts which pay decent rates of interest are high interest current accounts and regular savers which accept usually no more than £5k maximum (some a lot less) and involve lots of recycling payments in and out so I think for AC this would not work.

National Savings and Income Bonds are safe and although only 1% it us better than the usual miserly rate of 0.5% for e savers etc. £260k will pay £1300 over 6 months so as you say that will pay storage costs.

Only exception is Santander 123 which now offers only 1.5% though but will pay interest up to £20k. I don't think AC wants to use Santander though. My advise would be perhaps move his nationwide account to coop bank to get switching bonus if he is able to and open up a National Savings Income Bond account for the bulk of the money. He can access the Income Bond money easily so could withdraw a regular salary from there each month to keep within budget although he would be hard pushed to be as frugal as LL on £7k per annum. That is seriously impressive

Check up on DSS entitlements and NI contribution situation and you are sorted for 6 months until you purchased a property and maybe found a job and then look at pension provision/long term savings provision. Financial health check complete!!

another_casualty

Great advice again - thanks !:)
I went through the form filling , regarding the rental next week.
Could I find an old payslip ? No!
I sent email to wages/ pensions lady . She sent my n I number by email.

I will tell the e s that the pensioner type furniture can stay .
May ask for a reduction . Will enquire about broadband and what day does the rubbish go out . I think that's it ..

Regarding nationwide : I'm probably best leaving some in there .
Always good to have long term bank /bldg society accts IMHO

anna_1977

Hi AC, on what basis will you ask for a reduction?

wendym

I don't think AC will want to declare himself unfit for work, and in any case there are hideous examples of people being humiliated and refused ill health based benefits.

And I think leaving previous employment voluntarily throws a spanner in the works, but it would be worth asking Citizens Advice.

another_casualty

Anna, no basis really . Just friends advising me to do so, if I'm paying upfront. I did ask,and the answer was no.
Regarding my condition: I only wish to keep on receiving free prescriptions.
I need to lose weight ( yes everyone knows:) )
Just need to get strength back again, and walk faster without being breathless. TBH , the symptoms of my condition could've been a lot worse.
The specialist thinks he can wean me off the medication , if I lose weight.
The thought of going to a job centre both frighten dos the life out of me and depresses me to even think about it.
Apparently, for what I may possibly be entitled to (next to nothing), I may be able to do it online. Hope so.
When I do eventually decide to job hunt, it will be with agencies first.
Also via secs in the city website .

Paid deposit for flat . Weather is still confusing. Didn't sleep too well last night . Feel ok now. All the tension seems to have gone from me ( please God )
Middle of next week - gym . Probably Poole . Only 12 mins on bus from Ashley cross .

Will look into the above advice, and take heed and probably act

another_casualty

Just emailed chase Buchanan
Forgot to mention I was with e d f energy, so I let them know

Smodlet

Hi AC, all. My knowledge is extremely out of date regarding benefits but it seems the basic principles stay the same for years, while details change fairly often.

Leaving voluntarily (unless successfully appealed) used to result in disqualification from entitlement to benefits and NI credits for up to six months. It should be possible to determine any entitlement and to make a claim for contributions-based JSA/whatever it is called now on-line. Claimants are required to be able to, available for and actively seeking work.

Ill-health benefits I know nothing about but one hears absolute horror stories, as wendym said. Just google the comedienne Francesca Martinez and see what she has to say about it all. The benefits board would be the place to look.

HTH.

another_casualty

Thanks smodlet
When I moved into twickenham 14 years ago, I left without another job to go to. I had 4 months off.
I didn't bother claiming for anything then, so I don't think I'll bother now.

Smodlet

Given you are probably going to have calls on your time other than looking for work, that might be wise, AC.