JSA Annuity??????????

A question about : JSA Annuity??????????

Hi all,
I am on IBJSA and have a small annuity that is about to start and have a couple of questions.

1. If I have it paid monthly would I have to declare it as earnings to the DWP? They would then reduce my payments accordingly.

2. If I take it as a lump sum (Not over the Ј6000 savings limit) Am I right in thinking that I don't need to inform them?

Any advice would help.
Thanks in advance

Best answers:

• It is not a vast amount. But what I was getting at was that lets say:
  Value as lump sum Ј5000
  or
  Monthly income Ј50
  As an income the DWP would claw Ј30 ( Allowed Ј5/wk) from JSA monthly.
  As a lump some I could draw Ј50 a month for the next 8 years without informing them. As I would not breach the Ј6000 threshold.
  What I'm pointing out is that HMGov are constantly warning us to prepare our pensions, but when you do, you get penalised for a modicum of forward planning.
• Are you planning to be on JSA for eight years? Why?
• I have a small pension that was my deceased husbands paid twice a year and it is taken weekly from my JSA don't think they count the Ј5 you are able to earn
• Geminilady.
  I'm sure you can earn Ј5 as a single person and Ј10 as a couple per week. It's called a weekly "diregard". Have a read of this, just glue it together
  WelfareRights dot net /
  benefits-guides /
  Jobseekers-Allowance
  I'd ask next time you speak with them because pensions are classified as earnings.
• Does anyone know if you can still be sanctioned if you wait 6 months after you've quit your job?? Its coming up to 6 months since I quit and I need to claim?will I have any worries/sanctions?
• Do your own thread for answers
• I dont know how im new to this. where can I start a thread?