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  • FIRST POST
    • 50Twuncle
    • By 50Twuncle 17th May 19, 5:12 AM
    • 9,193Posts
    • 2,331Thanks
    50Twuncle
    Carers allowance and private pension
    • #1
    • 17th May 19, 5:12 AM
    Carers allowance and private pension 17th May 19 at 5:12 AM
    Does claiming a private pension at age 55 affect carers allowance.?
    I know that a state pension does...
Page 1
    • Alice Holt
    • By Alice Holt 17th May 19, 7:13 AM
    • 3,040 Posts
    • 3,521 Thanks
    Alice Holt
    • #2
    • 17th May 19, 7:13 AM
    • #2
    • 17th May 19, 7:13 AM
    https://www.carersuk.org/help-and-advice/financial-support/help-with-benefits/carers-allowance
    "Occupational or personal pensions do not count as earnings and you can be paid Carer's Allowance in addition to these. ... If you do receive taxable income such as occupational or personal pensions or part-time earnings you should inform the tax office about your Carer's Allowance, because it is a taxable benefit."
    Alice Holt Forest situated some 4 miles south of Farnham forms the most northerly gateway to the South Downs National Park.
    • in my wellies
    • By in my wellies 17th May 19, 7:36 AM
    • 815 Posts
    • 646 Thanks
    in my wellies
    • #3
    • 17th May 19, 7:36 AM
    • #3
    • 17th May 19, 7:36 AM
    Thank you for the helpful link.
    When the time comes can I defer my State Pension and continue to receive CA?
    • Alice Holt
    • By Alice Holt 17th May 19, 8:56 AM
    • 3,040 Posts
    • 3,521 Thanks
    Alice Holt
    • #4
    • 17th May 19, 8:56 AM
    • #4
    • 17th May 19, 8:56 AM
    Thank you for the helpful link.
    When the time comes can I defer my State Pension and continue to receive CA?
    Originally posted by in my wellies
    I don't think that would be advantageous, as you would forgo SP for a lower amount of CA but not build up any increases in future SP payable via deferment:
    https://www.gov.uk/deferring-state-pension/extra-state-pension-and-lump-sum-payments
    Alice Holt Forest situated some 4 miles south of Farnham forms the most northerly gateway to the South Downs National Park.
    • in my wellies
    • By in my wellies 17th May 19, 11:09 AM
    • 815 Posts
    • 646 Thanks
    in my wellies
    • #5
    • 17th May 19, 11:09 AM
    • #5
    • 17th May 19, 11:09 AM
    Many thanks
    I had planned to defer my state pension for 2 years before I became a carer but I can see, as you say, it won't be advantageous.
    • 50Twuncle
    • By 50Twuncle 17th May 19, 11:10 AM
    • 9,193 Posts
    • 2,331 Thanks
    50Twuncle
    • #6
    • 17th May 19, 11:10 AM
    • #6
    • 17th May 19, 11:10 AM
    https://www.carersuk.org/help-and-advice/financial-support/help-with-benefits/carers-allowance
    "Occupational or personal pensions do not count as earnings and you can be paid Carer's Allowance in addition to these. ... If you do receive taxable income such as occupational or personal pensions or part-time earnings you should inform the tax office about your Carer's Allowance, because it is a taxable benefit."
    Originally posted by Alice Holt

    Thanks - this is for my wife (aged 50) with no other income - who is planning on claiming from her private pension in 5 years time - currently claiming CA for caring for me !
    I understand that she can claim 25% of her pension tax free as a lump sum - what about subsequent years ?
    Is any income from the pension pot, treated as normal taxable income ?
    Last edited by 50Twuncle; 17-05-2019 at 11:13 AM.
    • bluenose1
    • By bluenose1 17th May 19, 2:03 PM
    • 2,118 Posts
    • 3,450 Thanks
    bluenose1
    • #7
    • 17th May 19, 2:03 PM
    • #7
    • 17th May 19, 2:03 PM
    Thanks - this is for my wife (aged 50) with no other income - who is planning on claiming from her private pension in 5 years time - currently claiming CA for caring for me !
    I understand that she can claim 25% of her pension tax free as a lump sum - what about subsequent years ?
    Is any income from the pension pot, treated as normal taxable income ?
    Originally posted by 50Twuncle
    After she has received the tax free element of her pension the rest is taxable same as other income. Therefore she won't have to pay tax on the first 12,500.

    My DB pension allows me to claim it from 50, might be worth doing the sums to see if it is something to think about.

    I assume you have checked you are getting everything you are entitled to eg. DLA.
    Money SPENDING Expert

    • 50Twuncle
    • By 50Twuncle 17th May 19, 5:01 PM
    • 9,193 Posts
    • 2,331 Thanks
    50Twuncle
    • #8
    • 17th May 19, 5:01 PM
    • #8
    • 17th May 19, 5:01 PM
    After she has received the tax free element of her pension the rest is taxable same as other income. Therefore she won't have to pay tax on the first 12,500.

    My DB pension allows me to claim it from 50, might be worth doing the sums to see if it is something to think about.

    I assume you have checked you are getting .everything you are entitled to eg. DLA.
    Originally posted by bluenose1
    Yes thanks - I am receiving DLA but am waiting on PIP application through the post !!
    Considering applying for a transfer - since I have deteriorated considerably in the 15 years that I have been on DLA for and no signs of PIP !!
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