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Income Based JSA, lump sum state pension?
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cc120
Posts: 122 Forumite

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
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
0
Comments
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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 JSA0
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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.pdf0 -
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
I have checked my state pension (£127). How can I found out if I have any DB occupational pension, or a DC private pension?0 -
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"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?0 -
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missbiggles1 wrote: »Have you ever paid into either of these?0
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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.......Gettin' There, Wherever There is......
I have a dodgy "i" key, so ignore spelling errors due to "i" issues, ...I blame Apple0
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