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T O P I C R E V I E W
Mrsroller
Posted - 21 March 2010 : 13:42:05 Hi,just need an expert's advice. As previously posted, went BR in Sept had ED forms to fill in end Jan - not heard anything yet. I have a pension that I was going to start taking in 2013. Hoever having gone BR and paying an IPA doesnt allow much saving. My mum helped me out when I was struggling and I would really like to help her now. After discharge I would like to take my pension early and I can have a small tax free lump sum of around £3700. Would I be able to keep that. I realise I would have to inform OR that I was getting an extra £40 pension a month but what about the tax free sum. When taking the pension there is a section to fill in about BR and they say they may have to inform OR in case they have an interest. I obviously gave them the pension details at time of BR and they didnt say anything about it. If it means losing this sum I would wait until my IPA finishes but that is not until Sept 2012. ANy advice please?
1 L A T E S T R E P L I E S (Newest First)
Bridgewood
Posted - 22 March 2010 : 09:44:04 Hi Mrsroller
As far as I can see, the lump sum from the pension is not claimable by the OR if taken prior to discharge, although the monthly amount you receive will be classed as income
It may be that a quick call to the OR's office will resolve this for you
