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Can you reduce the your personal pension and top it up with benefits ?

I cant seem to find any info online specific to my question I'm hoping someone on here can help.


A few years ago I was struggling with pain in my feet after an 8 hour shift (feet full of metal work and bolts). I was offered voluntary redundancy at age 57 so I took it and started living modestly on a personal pension. But now with the pandemic the war in Ukraine and the cost of everything going up my pension pot is depleting too quickly ( I need it to get me to 67 state pension age).


So my question is can I reduce the amount of personal pension I draw down and apply for benefits? I currently don't get any benefits at all. Thanks for any info.


Created By on 17/04/2023

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cris1117
19th Apr 2023 10:37:46
0
Thanks for voting!
Benefits are meant for people that need them now not to stop people needing them in the future.
Once you have used up your savings and pension pots you can apply for benefits.
That's why most benefits are means tested if you have enough money now then you wont get benefits as such until you have used up you existing assets.
I'm no expert but that how I see it, try Age UK or the CAB for advice.
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JE
21st Apr 2023 11:56:05
0
Thanks for voting!
I would say that if you have a disability and unable to work then you may be entitled to some benefits, irrespective of your financial situation. However, if it is simply a life choice not to work then it’s unlikely that any benefits will be payable. Check it out online or with Department for Works and Pensions.
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