New style JSA claim. Private pension statement- confused!

TheOnlyKowalksi

Hi y'all. The time has come for me to finally have to make a benefits claim. I'm applying for New Style JSA and it says I'll need a private pension statement letter. I have a personal pension that I've paid into over the last 25 years BUT I also have a small collection of workplace pensions as I've moved around jobs quite a bit. Im not drawing anything out of these as I'm still of working age.

• Does anyone know what they need in these circumstances? 
• And you they accept the annual statement as sent by the pension provider or do they need an up to date one? 

The JSA website doesnt let you put info in and save to return to later so I want to make sure I've got all docs to hand before I dive in!

Thanks

Robbie64

Are you getting any private pension? If not then you don't (as far as I am aware) need to provide any details*. If you receive an occupational or private pension of £50 or more per week then this will affect your JSA. For every £ your pension exceeds £50 your JSA is reduced by this excess.

* - note: I've not seen a JSA calim form so does it ask if you are paying into a pension scheme or if a pension is in payment? It should be the latter as under benefit rules you won't be penalised if you don't claim a private pension if you are under state pension age.

calcotti

I have no idea why they are asking for those as pension funds have no impact on new style JSA - only pensions actually in payment would make a difference.

NedS

To be asked for those documents, you must have answered that you have a private pension when making your claim. The question is actually referring to if you are in receipt of income from a private pension. If you have mistakenly answered the question, you will need to clarify that fact.

TheOnlyKowalksi

Ah right. No, I'm not in receipt of any pension payments at all. I think they make it intentionally vague! thanks folks

WallSun8

Hello, I wonder if anyone is still looking at this thread? I'm trying to apply for New Style Job Seekers Allowance today, having been made redundant a few months ago. I've worked full time for years.
There is a question on the government online form: 
"Deferred pension

Do you have a pension or annuity that you could be paid now, but have decided not to take?"

As I'm over 55 I could take 25% from one of my pension pots (they're all small) to buy an annuity.  I don't want to touch them as I want to work for years and save more in pensions until I reach State Pension Age.   

Does anyone know if the fact that an applicant over 55 does NOT want to take anything from their personal pension pot(s) could go against their application for New Style Job Seekers Allowance?  

poppy12345

WallSun8 said:

Hello, I wonder if anyone is still looking at this thread? I'm trying to apply for New Style Job Seekers Allowance today, having been made redundant a few months ago. I've worked full time for years.
There is a question on the government online form: 
"Deferred pension

Do you have a pension or annuity that you could be paid now, but have decided not to take?"

As I'm over 55 I could take 25% from one of my pension pots (they're all small) to buy an annuity.  I don't want to touch them as I want to work for years and save more in pensions until I reach State Pension Age.   

Does anyone know if the fact that an applicant over 55 does NOT want to take anything from their personal pension pot(s) could go against their application for New Style Job Seekers Allowance?  

Starting a new thread would have been better rather than ask on someone else's thread.

You are only 55 and your pension pot will not affect the amount of JSA you're entitled to.

NedS

The question is trying to ask if you have a pension for which you have reached scheme pension age but have decided to defer taking it. For example, if you had a final salary pension that is due at 60, you were 60 but you had decided to defer taking the pension to carry on working / claim JSA. If it's a defined contribution pension, it's only relevant once you reach state pension age, and if it's a defined benefit pension, it becomes relevant at the scheme pension age where you would normally draw the pension. In other words, you can not defer taking a pension that is due in order to claim benefits, but you are not expected to draw a pension early that is not yet due.

WallSun8

Thank you both for your replies NedS and Poppy12345.  I was a bit worried as I know people over 55 do have the option to access 25% of a pension pot, but I just need to save more. 

NedS

The intention here is simple - that people who have a pension should take it (when it's due), rather than deferring it (so they can get more, later) and relying on benefits/the tax payer to support them when they otherwise had the means to support themselves.

Pension freedoms, allowing people to access their pensions early, from age 55, have maybe clouded the waters, but it would not be reasonable to expect you to access your pension early, at potentially detrimental rates, when those funds are clearly intended for your retirement. Hence you would not be expected to take a pension before the normal scheme age (which may be different from state pension age), but you would be expected to take them at that age and would be treated as if you have taken the pension (as notional income), even if you've chosen to defer.

WallSun8

Thank you again NedS; this was also helpful.