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Hi All. I have just come back from a meeting with Pension Wise at the Citizens Bureau. I am on ESA and although I am under 55, my private pension company have said that I can take the money early because I have been ill for so long.
I know it is not worth taking over 6K. However, the advice I was given at CAB was that even if I take just 6K, the DWP might force me to take the rest of my pension and cut my benefits! Surely this cannot be correct? I challenged thi sand th elady said they definitely could and that they might also tell me to take a annuity out. It would therefore be better not to take any money from my pension.
I also asked if a miracle happened and i got well and returned to work , would the Government come after me for a 55% penalty for taking it early. She said no, but I am sure i have read that this can happen.
Any advice would really be appreciated as I am struggling to find detailed information elsewhere.
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