Accessing my UK SIPP pension at 55 and how my job seekers will be affected

Discussion in 'Redundancy, unemployment & jobseekers entitlements' started by Orla Graham, Oct 7, 2016.

  1. Orla Graham

    Orla Graham New Member

    Posts:
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    I have returned to live in Ireland these past five years from the uk and am in receipt of job seekers allowance. I have a private SIPP pension in the UK and wondered if at 55 I avail of the 25% tax free lump sum and opt for drawdown rather then annuity overall how this will affect my JSA.
    Firstly with great difficulty i managed to confirm via the Social Protection policy unit that the lump sum would be treated as capital not income and given my lump sum amount I would not lose much on tariff income calculation against my entitlements.
    However I plan to leave the remainder of my fund invested and only cash in income in emergencies as this was for my retirement at 65. Will the department of social protection allow me to do so and therefore continue to claim and be entitled to Job seekers allowance?