Maximising my SS support claim

poppy12345

If you're claiming a pension, anything more than £50 per week will reduce your NSJSA £1 for £1.

calcotti

calcotti said: Pension income over £50/week also reduces new style JSA.

poppy12345 said:

If you're claiming a pension, anything more than £50 per week will reduce your NSJSA £1 for £1. 

At £4,000/annum that's about £77/week so will reduce the JSA from £74.35 to about £47/week.
OP, if any JSA is already going to be reduced by your existing pension income taking any more pension will possibly make no sense as every additional £1 of pension will reduce the JSA by £1. Would only make sense if total pension income is going to exceed the amount of JSA available. 

dantheman61

Yes..thanks again,
I've been playing with the info on the website suggesed earlier, I end up with next to nothing..typical.
Back to the drawing board I think, part time job, possibly self emp again if you're able to do anything with small pension to top up.
Nightmare
Cheers Dan 

[Deleted User]

How are you planning on paying off the interest only mortgage?

dantheman61

Through my savings as long as I can.. I will find another job at some point I'm sure, benefits aren't going to help me out.
Cheers Dan 

p00hsticks

dantheman61 said:

Through my savings as long as I can..

I think Baron_Dale is asking what plans you have in place to pay the capital balance of the mortgage when the term is up - your monthly payments are only paying the interest, the mortgage balance is not decreasing.

xylophone

I Haven't taken work pension yet but can access after being made redundant. I will look into it before I make a decision as it cannot be reversed. 
work pension around 4k plus others frozen from previous employment.

What kind of pensions are these? (Defined Benefit/Defined Contribution)?

If DB, what is the Normal Retirement Age / age at which pension can be drawn without actuarial reduction) for each Scheme?

morg interest only,

Do you mean that you have an interest only mortgage?  

dantheman61

Hi
Yes, interest only morg.
DB pensions
I bought the house as a doer upper before the market crashed, I will prob have to sell it to pay off the loan at a later stage. Not sure where I go after that. 
Cheers Dan