Deciding to stop work following a dementia diagnosis

You may choose to stop work, or you may find you cannot continue working, even if you have a supportive employer. Some people find it is a relief to stop work. Other people find work very hard to give up. You may have mixed feelings. 

There are many reasons why people give up working. If your condition means you cannot continue working, you have not failed. Having dementia means many jobs are simply not possible.

It’s a good idea to look into your financial options so you can plan ahead as far as you can. This can help you make an informed decision about leaving work. 

Taking your pension after a dementia diagnosis

State Pension

A State Pension is paid to people who reach the State Pension age. It cannot be taken earlier. A person will usually receive a State Pension if they have made enough National Insurance (NI) contributions. Check your State Pension forecast.

The State Pension age (the age when people can start to receive the State pension) is currently 66. But this is gradually rising to 67 for those born in or after April 1960. Find more information about the State Pension age.

If you are younger than the State Pension age but you are not able to work, you may be able to get NI contribution credits. This is to protect your State Pension rights if you are receiving certain benefits.

Contact the government’s Pension Service for information about your pension rights.

Occupational and personal pensions

If you have a company pension plan - a ‘workplace pension’ - or a personal pension plan, leaving work at an earlier date will affect how much money you will receive.

However, many pension plans will let you take your pension if you retire early because of illness.

Ask your pension provider whether you qualify to take your pension early. Taking your pension early may have some impact on your financial situation. You may want to talk to a financial adviser about this.

Pension Wise is a free and impartial government service. It can give you advice about options for your workplace or personal pension.

Insurance policies following a dementia diagnosis

Check if you have any relevant insurance policies, such as critical illness cover. This might mean you could receive a lump sum if you have to give up work for medical reasons.

Look at the terms of any policy you have to see whether it covers dementia and if there are any restrictions or conditions. Talk to the insurance company if you need more information about your policy.

Financial advice following a dementia diagnosis

If you are facing challenges with your finances, you may find it helpful to get advice from an independent financial adviser. Ask someone you trust to recommend an adviser.

Citizens Advice and MoneyHelper can also suggest ways to find a suitable adviser. If you do speak to a financial adviser, make sure they confirm how much they will charge you at the start of your conversation.

Benefits following a dementia diagnosis

If you are of working age and you are affected by dementia, there are several benefits you may be entitled to, including:

• Universal Credit
• New Style Employment Support Allowance (ESA)
• Personal Independence Payment (PIP)

Learn more about the benefits you may be entitled to.