Deferred pension lump sum

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  • #31895
    dp66
    Participant

    Hi
    We have come across a case which has left us a bit baffled.
    We have a customer who has deferred her pension for several years and is due to receive a lump sum of £20,000. As we disregard this capital sum does that mean that she is classed as eligible for HB as her visable capital is less than 16,000.
    All of our previous cases have been on Pension credit so this has not been an issue.

    Thanks
    Debbie P

    #89175
    walmslm
    Participant

    Yes you disregard it – and I believe this is done for the life of the claim so even once it is spent should the customer then acquire a further £20,000 this would be reduced down to £0 capital.

    #89176
    dp66
    Participant

    Thanks for the replies
    This has really set off the grumbles here as people are spotting many loopholes and weighing up their own pension options!!

    Looks like we were doing it right and the customer has clearly made a killing.

    Cheers
    Debbie

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