How will taking a pension hurt unemployment benefits?
Today 5:30 AM
Q. I’m collecting unemployment benefits because my job cut my position because of COVID-19. Now my ex-employer wants me to take my pension in one of two ways: a lump sum or monthly. Will this stop my unemployment benefits if I accept either one?
— Not working
A. We’re sorry to hear about your job loss but it’s good to know you will have pension income in your future.
When you receive pension income, it is possible that your unemployment claim will be affected.
Your claim may be reduced by either 50% or 100% of your weekly pension amount if you are receiving a pension from the employer that your unemployment claim is based on, said Ken Van Leeuwen, a certified financial planner with Van Leeuwen & Company in Princeton.