Pensions and Illness
What happens to your pension when in hospital?
If you are retired and hospitalised, your state pension and workplace pension will continue coming to you as usual. However, your pension credit payments might be affected if you are hospitalised for a long time.
Does your pension stop if you remain in hospital?
Pensions were invented so that people can get some monetary support in their later years. Regardless of your health condition, your pension won’t stop coming.
What about my state pension while I am in a hospital?
Your state pension won’t be affected either, and you will continue to receive it even if you are hospitalised.
Pension Credit
Pension credit is designed to help those whose pensions are below a certain threshold. Pension credit is two-part support consisting of Savings Credit and Guarantee Credit advantage schemes.
If you receive this type of support and are hospitalised for more than 28 days, the granted amount might be affected. That’s because the value of your pension credit is determined by income from some other benefits. Some benefits are at risk of being minimised or stop if you spend more than 28 days at a hospital.
What happens in case of a terminal illness?
Both your state and office pension won’t stop coming regardless of your terminal situation. It is recommended to talk to an on-site hospital worker that can review your financial situation and give recommendations in such a situation.
Do you suffer from an illness and have questions related to your pension options?
UK Pension Help can connect you with a regulated financial adviser who can answer your questions and provide appropriate recommendations.
Book your free, no obligation consultation with one of our financial adviser partners.