Living off pension/savings until SP age

Kniphofia7 Forumite Posts: 8
First Post
I'm 63 next year and considering taking tax free lump sums on a few small pension pots I have and living off that income together with my savings until I reach SP age.  At that point would I qualify for housing beneft or pension credit as I rent?


  • sheramber
    sheramber Forumite Posts: 17,518
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    You become eligible to apply for pension credit when you reach State Pension age.

    You cannot apply for housing benefit now  unless you are of State pension age, or live in sheltered, supported or temporary accommodation.

    You would need to apply for Universal credit until then. 

    If you have a partner , both incomes would taken into account.
  • poppy12345
    poppy12345 Forumite Posts: 17,122
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    Once you reach state pension age whether there's any entitlement to PC will depend on how much your state pension is per week and your current circumstances at that time.
  • Alice_Holt
    Alice_Holt Forumite Posts: 5,608
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    Have a look at the Age UK factsheet on Pension Credit to determine if you would be eligible @ SPA.

    What does your state pension forecast say?
    What other pension income do you have?
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  • Brie
    Brie Forumite Posts: 7,446
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    If you get the full SP I believe you won't qualify for pension credit as your income will be too high.  If you are 1 in a couple then between you might qualify if one's total pension is significantly less. 
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