Pension plans

Hunnie1977

HI I have 2 frozen pension plans 
and am thinking of taking a monthly payment from both 
I have also nonmited to person on of the policy to 50%  each from my pot once  I pass away
 
can you advise what would a reasonable  figure as am now 60 and need cash as am working but seem as now living in rented flat  which take over 900 of my income and pay maintence to my son and wife  thus an am penny piching and want to stop this 
i get some help from UC but that jus t about covers my council tax for which i need to add some money to pay it 
As we not now what round the corner and winter coming thus heating the flat 


tia 

molerat

Any income you take from the pension could affect your UC claim.

Run your ideas through here and see what the outcome is https://www.moneyhelper.org.uk/en/benefits/universal-credit/how-much-is-universal-credit

Hunnie1977

How else to survie as on 2k income after tax which need to pay rent council tax light bill etc 

Hunnie1977

give up job and see what get from Uc as have car to pay for on monthly as well and eat and maintence ?

dunstonh

How else to survie as on 2k income after tax which need to pay rent council tax light bill etc 

Keep on working until state pension age and keep saving until then.

Benefits are there to get you to the breadline or thereabouts.    So, if you don't want to work, you will have to get used to a lower standard of living.

Brie

Have you checked if you're getting social tariffs for your gas & electric?  For your phone contract? 

If you talk to someone who gives budgeting advice they might be able to spot other ways that you can save or other benefits that you have missed out on.  It will be some of the regular names that also give debt advice - StepChange, Community Money Advice, Christians Against Poverty.

An alternative is for you to post on the debt free wannabee board.  Look at one of the top stickies for the Statement of Accounts (SOA) to fill in an post on there and helpful people will see if there's any way to twitch this into a better position for you.

Cobbler_tone

From the limited info it sounds to me as though you are not in the worst position.
I'm assuming your job (and UC) covers your outgoings, albeit on quite a tight budget. Get to 67 and you should have a decent retirement on your 3 pensions. I'll also assume that your maintenance is time limited. 

Hunnie1977

dunstonh said:

How else to survie as on 2k income after tax which need to pay rent council tax light bill etc 

Keep on working until state pension age and keep saving until then.

Benefits are there to get you to the breadline or thereabouts.    So, if you don't want to work, you will have to get used to a lower standard of living.

how can i have stand of living when can not got out when working as income and cost just about manage 
but got person who come over and get full benefits even though not paid a penny in tax ot NI 

Hunnie1977

Brie said:

Have you checked if you're getting social tariffs for your gas & electric?  For your phone contract? 

If you talk to someone who gives budgeting advice they might be able to spot other ways that you can save or other benefits that you have missed out on.  It will be some of the regular names that also give debt advice - StepChange, Community Money Advice, Christians Against Poverty.

An alternative is for you to post on the debt free wannabee board.  Look at one of the top stickies for the Statement of Accounts (SOA) to fill in an post on there and helpful people will see if there's any way to twitch this into a better position for you.

am not in debt yet as pay all uttilulies bils on time have v bb sky and and car which i pay monthly toward as flat full elecrti thus high light bill please send link for SOA to post 

penners324

Sounds like your paying too much Maintenance. Can this be lowered?

Cobbler_tone

Hunnie1977 said:

dunstonh said:

How else to survie as on 2k income after tax which need to pay rent council tax light bill etc 

Keep on working until state pension age and keep saving until then.

Benefits are there to get you to the breadline or thereabouts.    So, if you don't want to work, you will have to get used to a lower standard of living.

how can i have stand of living when can not got out when working as income and cost just about manage 
but got person who come over and get full benefits even though not paid a penny in tax ot NI 

You read this a lot (not just about those arriving in the UK) but I am not sure if you are ever better financially off on benefits vs working. It is the same as tax bands. You might pay more tax but you are still better off. The incentive (and effort in/reward out) for a few more quid may be a more relevant discussion in both instances. I don't believe that benefits are designed to pay out more than you would earn.
As the previous poster said, maintenance should be linked to earnings and unfortunately you have to cut your cloth accordingly with the remainder.