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Thread: deferred pension and benefits

  1. #11
    I don't know what the hell I am going to do
    I guess if/when I get pension share from divorce - I will have to notify ESA
    but then fk only knows what they will say or do with that information

    I am losing my grip on this now
    in fact I am losing the will to live!!

    the link I gave earlier - to the gov. page - which talks to 'one' person but then includes an 'or partner' bit as well
    - it clearly states
    If you (or your partner) are under the qualifying age for Pension Credit
    If you (or your partner) are under the qualifying age for Pension Credit, and you do not take any money from your pension pot, then it will not be taken into account when your benefit entitlement is worked out.
    If you or your partner do take money from your pension pot, it will be treated as either income or capital, depending on, for example, how regularly you withdraw it.
    It is your responsibility to tell the Department for Work and Pensions (DWP) – and your local council where appropriate – if you or your partner take any money from your pension pot.


    NOWHERE does it state that it only applies to couples - since at the beginning of the page it is titled 'Pension freedoms and DWP benefits'

    ok
    going now because I am really losing it

  2. #12
    Senior Member nukecad's Avatar
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    Quote Originally Posted by walker View Post
    at the beginning of the page it is titled 'Pension freedoms and DWP benefits'
    That's correct because that webpage is only talking about taking a lump sum, or income, early (before the pension is due to pay out) under the freedom of pension rules.
    ie. Taking part of your pension before it is due to pay out.

    It is not talking about pensions in general, just about those special pension freedom rules.

    The DWP can't make you take any of your pension before it is due to pay out, (even though you have the freedom to do so).
    But if you do take some or all of it early then they will count it as income/capital because you then have it.

    However once the pension gets to the date when it is due to pay out then they can take it into account, whether you draw on it or not.
    Last edited by nukecad; 05-14-2019 at 02:51 PM.
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  3. #13
    thanks for clarifying that

    but I still cant find out what will happen to the divorce pension share - since that does not have a 'pay out' date on it because it will be a new pension fund in my name

  4. #14
    Senior Member nukecad's Avatar
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    I'm not entirely sure what you mean by 'divorce pension share', it could be various things.

    If this was something arranged as part of a divorce settlement then it should say how it is to be set up.

    It could be divided in various different ways, depending on what the parties agreed to.
    https://www.moneyadviceservice.org.u...or-dissolution

    I suspect that the original pension will have be split into two new pensions, with the same end date as the original pension.
    (The first option in that weblink).

    You'd need to confirm the details with the lawyer who handled your divorce, or with the company who holds the pension.
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  5. #15
    well that part has not happened yet as still in divorce process

    it will be a share of hubs pension - which has to be taken OUT of his scheme and cannot be put into mine
    so will have to become a new pension

  6. #16
    Senior Member nukecad's Avatar
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    Sounds like the first option in that money advice link.

    If possible (not sure but it might be) then you might want to arrange for your new pensions 'due date' to be aligned with your state pension date.
    That should avoid any issues with possible deductions benefits.
    I don't know everything. - But I'm good at searching for, and finding, stuff.

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  7. #17
    ok
    so I have exhausted all avenues online, including the gov. pension advice - trying to find out how they will treat any pension share I get from my divorce
    CAB wont help
    no one

    so I am wondering if this would be an appropriate thing to ask in a 'freedom of information' request

    I honestly cannot be the only person this has/is happening to

    I know I could call dwp - but I also know whoever I speak to wont know the answer and then what do I do

  8. #18
    Senior Member nukecad's Avatar
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    An FoI request is not indended for asking a question, it's a request for information that already exists.

    If you ask a question that needs an opinion or for new information to be created then they can refuse to answer.

    The DWPs stock answer if you ask a question in a FoI is:
    The FoI Act gives you a legal right of access to any recorded information held by a public
    authority. We do not have to provide opinions or explanations, generate answers to questions,
    or create or obtain information we do not hold.

    If you ask a question, rather than requesting recorded information, we will provide you with the
    recorded information that best answers the question. Once we have provided the recorded
    information, we have met our obligations under the Act; interpreting the information provided is
    up to you.
    However the DWP will sometimes answer a question asked in a FoI, if they are feeling generous. (and it's not too difficult or possibly contentious).
    On this occasion you have asked questions, and as such we are responding
    to you outside of the FoI Act.
    TBH I think that your problem here is that you don't yet know just what type the pension is going to be, how much it will pay, or when it will be due to start paying.
    Until you have those details there is little that anyone can advise at the moment, it's just too hypothetical to answer.
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  9. #19
    thanks nukecad
    I agree with what you are saying
    although I think the information MUST exist somewhere - I just don't know where
    somewhere they must have a rule for my situation - for goodness sake I am not the only person on benefits getting divorced!!

    the pension will be a personal pension of some sort - probably a SIPP
    but regarding when it starts paying, that is the key thing, isn't it
    because I can invest it for as long as I wish
    so would the gov. say it is available straightaway?
    or at 60?
    or pension credit age

    I think it should be the latter, but because it is something I would just be opening and I am 55, I am concerned they would expect me to draw on it immediately
    although that seems ludicrous

  10. #20
    Senior Member nukecad's Avatar
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    I don't think that any new pension created by splitting an existing pension could have an earlier 'due date' than the original pension.
    (It might be possible to have a later Due date, but might not).

    So until you know for sure I'd work on the due date being the same as the current pension.

    I'm only going from when a small works pension I have was sold-out to one of the big companies as a paid-up "Defered annuity pension", the new pension had the same due date as the old one.
    (Note to self; check what date that is, it's probably below state pension age now).
    I don't know everything. - But I'm good at searching for, and finding, stuff.

    Migration from ESA to Universal Credit- Click here for information.

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