Personal Pension And Care Package

grandadgolfer

I have a personal pension as yet I haven’t drawn down from it, the plan was when I reached 65 I’m now 62
Will it be classed as part of my investments for a financial assessment in regards a care package or disregarded

Keep_pedalling

It won’t be disregarded it will be treated as income.

https://professionalparaplanner.co.uk/assessing-pensions-in-social-care-funding-key-pointers-and-calculations/

grandadgolfer

I haven’t drawn down from it yet

Keep_pedalling

grandadgolfer said:

I haven’t drawn down from it yet

It is still treated as income. From the link I provided abound.

• If your client draws less than would be provided by an annuity (or even no income at all), a notional income will be used. This will be the maximum income that could be paid under an annuity. Any income actually being taken in this circumstance will be disregarded to avoid double counting.

Spoonie_Turtle

Keep_pedalling said:

grandadgolfer said:

I haven’t drawn down from it yet

It is still treated as income. From the link I provided abound.

• If your client draws less than would be provided by an annuity (or even no income at all), a notional income will be used. This will be the maximum income that could be paid under an annuity. Any income actually being taken in this circumstance will be disregarded to avoid double counting.

Also from that link:

"a client’s pension will be included in the financial assessment if:

• They are drawing an income from their pension, or
• They have reached state pension age and are able to draw an income from their pension."

Neither of which applies to the OP.

Albermarle

Keep_pedalling said:

grandadgolfer said:

I haven’t drawn down from it yet

It is still treated as income. From the link I provided abound.

• If your client draws less than would be provided by an annuity (or even no income at all), a notional income will be used. This will be the maximum income that could be paid under an annuity. Any income actually being taken in this circumstance will be disregarded to avoid double counting.

If you are not actually withdrawing from it, It is I think only treated as income once you reach state pension age. Info in the link would seem to confirm that.

OP In that case the pension will be disregarded at least until you reach state pension age.