Student Loan Repayments When Retired

MrsT1963

I’ve taken early retirement and cashed in my pensions to support me until I’m 67. Will this be classed as income or is that just the interest? I’m worried I’ll need to start repaying a student loan I have

silvercar

I'm not clear whether you mean taken a lump sum or that you have started taking your pension.

The general rule is that any taxable income is classed as income for repayments.

Remember that student loans get written off after a certain time, even if you have income.

I am asking the MSE forum team to move this thread to the student board here. You may find similar questions on the student board. https://forums.moneysavingexpert.com/categories/student-money-saving 

Ed-1

silvercar said:

I'm not clear whether you mean taken a lump sum or that you have started taking your pension.

The general rule is that any taxable income is classed as income for repayments.

Remember that student loans get written off after a certain time, even if you have income.

I am asking the MSE forum team to move this thread to the student board here. You may find similar questions on the student board. https://forums.moneysavingexpert.com/categories/student-money-saving 

Correction: any NICable income.

MrsT1963

I see, thank you. I’m drawing down lump sums up to the value of my personal tax allowance so won’t be paying tax