Donate SIGN UP

Pension Credit On Retirement.

Avatar Image
kloofnek | 16:33 Sun 09th Mar 2014 | Personal Finance
4 Answers
a retired person is receiving a a small state pension and is working part-time.
If he then retires completely,will he then receive Pension Credit as his pension is below the standard rate?

A separate question here..if another person has a small Works pension and a small SP,totalling ,for example, £90.00...will that person be entitled to some PC?
Gravatar

Answers

1 to 4 of 4rss feed

Best Answer

No best answer has yet been selected by kloofnek. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
Pension Guarantee Credit tops up the income of any single person (who has reached the qualifying age) to £145.40 per week. It's irrelevant as to how their other income is made up (e.g. from a basic state pension or through employment). If they're not receiving £145.40 in total, Pension Guarantee Credit pays the difference. Couples get their weekly income topped up to £222.05 per week:
https://www.gov.uk/pension-credit
If they have savings over £10,000 they will get a reduction in pension credit payable for every £500 of savings.
Question Author
Thank you very much
they knock £1 for every £500 over £10,000 in savings.

1 to 4 of 4rss feed

Do you know the answer?

Pension Credit On Retirement.

Answer Question >>