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Dad's change in income due to retirement

Hi everyone,
My stepdad has been on a private pension for a few years now, and he used to have a part time job on the side until last year when he needed a hip replacement so couldn't work. He hasn't returned to work since (and doesn't plan to as he's enjoying early retirement). However, when asked to provide evidence of his income, it asks for his earning in the tax year 2018-19, in which he was earning significantly more than he is now due to part time (almost full time) work.

Does anyone know if its possible for him to submit his earnings for the most recent tax year (2019-20) as this will be true of his current and future earnings.

I don't want to earn less student finance as since he is currently earning less, he will not be able to support me much financially, at least not as much as he would have been able to if he was still working.

Thanks! and I hope everyone's staying safe and looking after themselves <3

Reply 1

Clearing and Applications Advisor

If his income has dropped then he still needs to provide his 18/19 income.

He can then submit a CYI form with estimated income for 20/21. If it is 15% lower than 18/19 then SFE will recalculate your loan based on the estimate (an then will compare the estimate to his actual income at the end of the 20/21 tax year).

The forms are here https://www.gov.uk/student-finance-forms/y/english-student-full-time/send-parent-or-partner-s-income-detail-for-example-pff2-or-cyi/2020-to-2021

Reply 2

kitdrawss