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Is money in a private pension counted as savings?

6 replies

SoonToBeSix · 18/10/2014 20:36

For benefit purposes ie housing benefit , universal credit? I have tried googling but can only find information on pensioners savings? Thanks

OP posts:
SoonToBeSix · 18/10/2014 21:04

Bump

OP posts:
Llareggub · 18/10/2014 21:05

I doubt it.

It isn't liquid so my guess is that it doesn't count.

SoonToBeSix · 18/10/2014 21:09

Thanks

OP posts:
Viviennemary · 19/10/2014 18:57

No it isn't. Assuming that the money is still in the fund and not paid out already to you as a lump sum.

SoonToBeSix · 19/10/2014 20:14

Thanks Vivienne do you know if you can add to it while claiming universal credit.

OP posts:
mrboursin · 21/10/2014 23:47

No, it shouldn't do. I have a decent amount in my private pension from when I was working but am claiming income support and housing benefit now. I declared the full amount (well over max savings limit) and I've been able to claim the maximum amount of benefits so it wasn't counted at all. Very glad I put it into my pension and not in ISAs! Am in my 30s and pension won't be accessible for a couple of decades at least.

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