Welsh student grants and pension lump sum

lemonpopsicle

I've got one son who's just started at uni and another who is about to go on his paid placement year, we are on a low income (self employed) so they both qualify for student grants. Anyway, my husband's local authority employer from 15 years ago has just written to us to say they intend paying his small pension and 20k lump sum next January, when he's 60. Student Finance Wales take lump sums into account which would mean neither of my son's would get any student grants. We submit current year financial information because I got a small redundancy payment 3 years ago.
Sorry for the long thread. Can anyone advise us what to do? Thanks

Oh and I forgot to say the pension company say that hubby can't defer payment, although they then added that if they don't know what account to pay into then they can't pay it!

lemonpopsicle

Does anyone have advice?

agrinnall

To be honest, it's a pension question rather than a student finance one, so you might be better to ask on the Pension board.

inkie

I would think that you would be OK in the short term as the lump sum won't be considered immediately. It it will be in the 16/17 tax year, and that wouldn't be declarable until filling in student finance forms for the academic year 17/18.
Daughter has just done hers and they wanted to know from the 14/15 tax year (it's actually on her and her husbands not ours - both students and married in the summer). Not sure about anything else.

sheramber

The OP has said

We submit current year financial information because I got a small redundancy payment 3 years ago.