Pension Bee

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  • #286928
    Pete Mc
    Participant

    Hi all, I was wondering if anyone has any advice on this one.

    Claimant has about £27k which he has placed with Pension Bee and is currently not drawing any income from it.

    My understanding is that we have to disregard this as capital and calculate what income he is entitled to receive from this pension scheme if he chose to and include this as income.

    The claimant has been in touch with Pension Bee and they have just said they don’t pay him an income, he can just withdraw whatever he wants whenever he wants. I’m not sure therefore how this differs from a bank account with £27k savings. Does anyone have any experience in dealing with these? Pension Bee seem to be advertising all over the place so am hoping others may have come across claims where they are involved.

    As always, any help gratefully received!

    #286930
    John Boxall
    Participant

    It sounds like a drawdown pension

    See A7 2015

    Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery. The blossom is blighted, the leaf is withered, the god of day goes down upon the dreary scene, and—and in short you are for ever floored.

    Wilkins Micawber, Ch12 David Copperfield

    #286960
    Pete Mc
    Participant

    That will do me. Thanks for that.

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