Would lady, aged 81, be able to keep lump sum pension to buy disability equipment ?

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Louise.01

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Post by Louise.01 » Thu Oct 30, 2014 9:42 am
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Asking on behalf of someone else . Lady aged 81 who receives a monthly pension to the value of £29.71 , pension company wish lady to consider taking a lump sum of £ 2,581... As this is a pension would the lady concerned be able to keep the full amount as it is required to purchase disability equipment ... Thank you for your assistance
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relieved33

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Post by relieved33 » Thu Oct 30, 2014 9:53 am
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Is she in an IVA? If so, discuss it with IP as this may have been covered in the proposal and could be excluded.
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Foggy

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Post by Foggy » Thu Oct 30, 2014 9:58 am
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In an IVA the lump sum would not be treated in the same way as the ongoing pension income. The best thing to do would be to seek her IP's views on this before she does anything further with regard to getting the lump sum.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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