Pension Credit , Damn

[SparklyKid]

a couple of quid short .  it seems to open a lot of goodies for free .

[barry1010]

On average it is worth £3k a year, less for some but could be much more. You can have £10k savings without it affecting pension credit. 

[youngmafbog]

Teach you to put some by for your retirement.

The message now is spend it all and sit back for the freebies from the Government.

[barry1010]

You're right for people in your position.

Everyone on the full 'new' pension is around £4 over the limit

[douglas9401]

It was ever so.

[davebro3]

not for WFA it wasn't

[barry1010]

That's not the message,young.

Everyone on the new state pension doesn't qualify for the freebies.

[jourdain2]

I'm not on the 'new pension', nor is OH - but we each made the mistake of saving a bit and investing in what now appear to be smallish pensions ---- looked good at the time.  Let's face it £15 was a decent income and allowed for usual small inflation rates. We know what happened and this latest lot of pay rises will make us even worse off.

[Giggsie]

It should be stopped for all. Ones on pension credit are still better off than us that are not. The other benefits that go with it naming one a free tv licence.. plus it opens up for other things that are free if your on a benefit. 

 

 

[davebro3]

good point giggsie

[Ken4155]

Not all on pension credit qualify for free tv licences.

[barry1010]

Only those on pension credit get free tv licences - if they are 75 and over.

Nobody who gets the full 'new' state pension will ever get pension credit as it is slightly above the threshold.  As that came out in 2016, nobody currently under 73 will get it (if they get the full state pension).

I've said all along that those who do not get the full state pension, the amount the government has decided is ample for one person to live on,  then their supplementary benefit should increase to match it.  Nothing else, certainly not the amount of extras they get now.

 

[barry1010]

The irony is that those on pension credit not only get the £300 WFA they also get £150 paid to their energy bill under the Warm Home Discount Scheme and the Cold Weather Payment of £25 for every 7 days of very cold weather between 1st November and 31st March.  Pensioners not on Pension Credit don't get these payments.

[JinnyJoan]

ones on pension credit are very well off - sell their house for £160,000 - gave it their children to mind and then they apply for pension credit.  I do know quite a lot.  And sure they don't need WFA or other wee bits and pieces that comes along with the PC - move to residential apartments and because of PC - get their rent paid for.

[Peter Pedant]

The message now is spend it all and sit back for the freebies from the Government.

thegovt have just CUT a freebie durr ! - the WFA to be exact. So the  lesson is the opposite. Jesus

I mean this IS AB but no need to go against all logic

[Peter Pedant]

sell their house for £160,000 - gave it their children to mind and then they apply for pension credit. 

is internally inconsistent - they cant sell and then have kids mind. If they gave it to the children that counts as a transfer to reduce assets and anyway  to effect it, have to pay a market rent. If they sold it they have to move out. Stories, just stories

AB on a day with a 'y' in it

[Peter Pedant]

oh and if they sold it, they now have an asset of £160 000 t get rid of, and no house

[DDIL]

@924, are you sure that is what has happened? Full checks are carried out when applying for PC, and any sales of houses will show up as will giving away the money.

[Giggsie]

I'm like Barry always thought it was folk under full pension that got pension credit to bring them up to same as all pensioners. Did not realise all else they get. Don't know why all other benefits go with it but hey ho it's how life is. 

[THECORBYLOON]

JJ, "I do know quite a lot" that's not the same as knowing enough. 

Google, "deprivation of capital" and see why you're incorrect about transferring money and then claiming Pension Credit.

[JinnyJoan]

well I am correct re 3 friends - it's what they done!