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Will a lump sum from a pension affect Universal credit payments?
alric
Posts: 337 Forumite
if I am 3 months from retirement age, and receiving universal credit, can I take the lump sum (less than £1000) from a pension fund, without it affecting my universal credit?
0
Comments
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It depends on how much you already have by way of savings. If the lump sum takes you over £6000 in savings at the end of the assessment period that you receive it in, you will need to inform the DWP and it will reduce your UC a bit.
You can pay any debts you have using the lump sum if this help get you below £6000.The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.1
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