mandy1000
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I am recently widowed and want to know whether non taxable payments such as death payments and pension lump sums are seen as income for student loan purposes. If so where do they go on your form
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Elizabeth SFE
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Hi Mandy

Private pension contributions can be taken into account as an income deduction for assessment of household income. We will require evidence of payments made, which can be in the form of a Tax Return or a statement from your pension provider.

If you have received a lump sum from a Private Pension scheme, this will be included in the assessment as this has come from a taxable source. These payments are not taxable in themselves, however like redundancy payments, they are from a taxable source. We will require evidence of payments received which can be in the form of a pension statement or a P60P.

Student Finance England only require you to declare any Private Pension Contributions.These are included in the income section.Thanks
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mandy1000
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Thanks for clarification Does this go in the general income line or somewhere else



(Original post by Elizabeth SFE)
Hi Mandy

Private pension contributions can be taken into account as an income deduction for assessment of household income. We will require evidence of payments made, which can be in the form of a Tax Return or a statement from your pension provider.

If you have received a lump sum from a Private Pension scheme, this will be included in the assessment as this has come from a taxable source. These payments are not taxable in themselves, however like redundancy payments, they are from a taxable source. We will require evidence of payments received which can be in the form of a pension statement or a P60P.

Student Finance England only require you to declare any Private Pension Contributions.These are included in the income section.Thanks
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Elizabeth SFE
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(Original post by Elizabeth SFE)
Hi Mandy

Private pension contributions can be taken into account as an income deduction for assessment of household income. We will require evidence of payments made, which can be in the form of a Tax Return or a statement from your pension provider.

If you have received a lump sum from a Private Pension scheme, this will be included in the assessment as this has come from a taxable source. These payments are not taxable in themselves, however like redundancy payments, they are from a taxable source. We will require evidence of payments received which can be in the form of a pension statement or a P60P.

Student Finance England only require you to declare any Private Pension Contributions.These are included in the income section.Thanks
Hi Mandy

this would be placed in the unearned income section of the form.

Thanks
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mandy1000
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Cheers. I thought that would be the case.
I was just asking where on the form with my second question.
Thank you

(Original post by Elizabeth SFE)
Hi Mandy

Private pension contributions can be taken into account as an income deduction for assessment of household income. We will require evidence of payments made, which can be in the form of a Tax Return or a statement from your pension provider.

If you have received a lump sum from a Private Pension scheme, this will be included in the assessment as this has come from a taxable source. These payments are not taxable in themselves, however like redundancy payments, they are from a taxable source. We will require evidence of payments received which can be in the form of a pension statement or a P60P.

Student Finance England only require you to declare any Private Pension Contributions.These are included in the income section.Thanks
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mandy1000
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your answer came through twice so I thought you were repeating the same info to answer the second question.
Sorry new to this- just spotted you second alternative reply
Thanks for your help
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Elizabeth SFE
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You're welcome Mandy
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