Where to get good financial advice?

[Deeessex]

Hi
My husband has recently been diagnosed with early onset dementia (57). We are trying to wade our way through our pensions etc. He has a couple of Occupational Pensions from past jobs and a couple of private pensions. He also recieves Incapacity benefit. We are looking to find out and learn from others whether it is in peoples intrests to take pensions early? What are peoples experiences plus any downsides. I have established that regarding his incapacity if he gets pensions over 85 pounds a week anything over this amount is divided by 2 and taken by DWP i assume.
I would welcome any thoughts
Denise

 

[Kate P]

Hi Deeessex,

In respect of your husband's private/occupational pensions it is difficult to say without knowing the "ins and outs" of it. You need to check with each pension provider as to what the penalty is for taking his pension early.

In respect of Incapacity Benefit, his benefit will be reduced if he receives private pensions over £85 per week. Again, once you've spoken to his pension providers and know what you would be receiving the Incapacity people will be able to tell you exactly how much they would deduct (if anything) from his benefit. Any lump sum payments are not taken into account.

Not wishing to be presumptuous but have you claimed Disability Living Allowance for your husband? I would definitely advise you to look into this - it will not affect his Incapacity Benefit and is itself not affected by any other income. It will also open up other avenues should you ever need to claim carers allowance or income support/pension credit.

 

[Deeessex]

Thanks Kate
I dont think he is able to claim DLA currently as he is not "ill" enough I believe. He is able to be "safe" at home and keeps buzy pottering around the house. I am currently in full time working and hope and need that to be able to continue for as long as possible. Thanks for the information and the bit about the "lump sum" not affecting the Incapacity benefit was a question I had meant to ask and forgot to!
Thanks again
Denise

 

[jackie1]

Hi Denise
This web site has lots of information about benefits. You should definately be able to claim DLA.

Have a look at these information sheets

http://www.alzheimers.org.uk/After_diagnosis/Sorting_out_your_money/info_welfare.htm

http://www.alzheimers.org.uk/After_diagnosis/Sorting_out_your_money/info_financiallegal.htm

Remember it is a MAIN meal they need to be competent in cooking to NOT qualify not just a quick snack.

You may also be able to claim a rebate of 25% on your council tax so do check this out.

I hope this helps.

Jackie

 

[stjohn]

Financial Help

I too have been wading my way through the mountain of red tape and form filling on behalf of my husband, who too has just been diagnosed with early onset dementia at 58. We get Incapacity Benefit and DLA as he has had to early retire from work.

He has two small pensions each accompanied by a lump sum. We have opted to take them and make our home comfortable for our impending future ! as he also has a lung disease.

I too work full time and hope to carry on for some time yet, I am 53. My children are grown up.

You never know what tomorrow may bring, so enjoy what you can now, but carefully, and semi plan for the future.

 

[cris]

Dee you need to seek advice. Everyone is different because circumstances are different.
cris

 

[sue38]

Try Citizens Advice. They are free and usually spot on when it comes to benefits.