Income Based JSA, lump sum state pension?

cc120

Hi Everyone

I am currently on income based JSA, have been for over 5 years.

Is the state pension available in a lump sum quantity, now that I am 55?

I know this could impact housing benefits but I have only £40 a month mortgage to pay.

Regards

cc120

anmarj

State pension is not available early, only when you reach state pension age, however if you have any work/private pension they may be available now, but any capital over £6000 will effect your JSA

xylophone

You may wish to obtain a new state pension statement.

https://www.gov.uk/check-state-pension

https://www.gov.uk/new-state-pension/overview

With regard to any deferred DB occupational pension you may have, there is a possibility that you may be able to draw it at age 55 but it is likely that you would suffer high actuarial reductions.

A DC private pension could be available.

Having capital or income from your pension could affect your benefits.

For the effect that taking pension monies might have see

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/417473/pension-flexibilities-dwp-benefits.pdf

cc120

xylophone wrote: »

You may wish to obtain a new state pension statement.

https://www.gov.uk/check-state-pension

https://www.gov.uk/new-state-pension/overview

With regard to any deferred DB occupational pension you may have, there is a possibility that you may be able to draw it at age 55 but it is likely that you would suffer high actuarial reductions.

A DC private pension could be available.

Having capital or income from your pension could affect your benefits.

For the effect that taking pension monies might have see

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/417473/pension-flexibilities-dwp-benefits.pdf

Thank you xylophone

I have checked my state pension (£127). How can I found out if I have any DB occupational pension, or a DC private pension?

missbiggles1

cc120 wrote: »

Thank you xylophone

I have checked my state pension (£127). How can I found out if I have any DB occupational pension, or a DC private pension?

Have you ever paid into either of these?

xylophone

"Paying in" is not wholly accurate - certain schemes did not require an employee contribution.

OP, have you ever been a member of an occupational or private pension scheme?

missbiggles1

xylophone wrote: »

"Paying in" is not wholly accurate - certain schemes did not require an employee contribution.

OP, have you ever been a member of an occupational or private pension scheme?

You're quite right - sorry.

cc120

xylophone wrote: »

"Paying in" is not wholly accurate - certain schemes did not require an employee contribution.

OP, have you ever been a member of an occupational or private pension scheme?

Not knowingly.

cc120

missbiggles1 wrote: »

Have you ever paid into either of these?

Not knowingly.

cc120

xylophone wrote: »

"Paying in" is not wholly accurate - certain schemes did not require an employee contribution.

OP, have you ever been a member of an occupational or private pension scheme?

Hi xylophone

is there a way of finding out whether I have had these pensions?

GunJack

There is a pensions tracing service that's government-run. You'll probably need details of when and who you were employed by over the years for them to trace any for you.