MSE Pension Credit Guide

[MSE Helen Saxon]

Hi!

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Pension Credit guide.

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Thanks folks,


Helen

[Murphybear]

I'm helping a friend sort out his Pension Credit and am having trouble understanding the Government thinking.

Until recently he has been claiming state pension plus a small amount of a Guarantee Credit and Savings Credit.

He is about to claim a private pension which will take his total income to �185 a week plus a lump sum of �18,000. Now they are assuming he gets �18 per week from this which is, of course, ludicrous as savings rates are nothing like that!

He has been told (and this is the bit I don't understand) that he can claim savings credit of �16.80 a week as they pay 60 p in the pound for qualifying income from �130.35 - �148.35. BUT they then say we take off 40p in the pound of the total income from �148.35 - �190.35 which is also �16.80 so he won't be entitled to anything. I have read lots of benefit advice for him and couldn't see anywhere about them taking back the money.


Can anyone provide some sort of Gov reasoning?

Many thanks

[xylophone]

http://www.ageuk.org.uk/Documents/EN....pdf?dtrk=true

See http://forums.moneysavingexpert.com/...5#post64992965 post 2

[songbird02]

I am a single female, aged 65 yrs of age and claim state pension and a very small amount of pension credit, my mother gifted my brother and i a house which was recently sold at auction and the money has been split between my brother and my self, i also claim housing benefit and council tax. I phoned the housing benefit office to let them know of my change of circumstances, they asked me if i receive pension credit i told them yes, so they told me i need to let the pension credit ppl know, and if they are not interested niether are the housing benefit office. i couldnt believe it. Now this gift of money is �40,000 and i want to pay some debts off with some of it, and i want to gift �4,000 to my family. My debts and gifts will amount to �5,000, am i allowed to do this? Will i lose all my housing benefit and council tax benefits? I understand i will be expected to live off this gifted money, but when it has gone will i be able to claim housing and council tax benefits ever again? Thanks in advance for any replies!!

[sleepless saver]

If you are in an Assessed Income Period for the pension credit then the Pension Service will not be interested, but your benefits will definitely be affected if you're not in an AIP. So you need to phone them to find out (or check your award letter).

If you are in an AIP then the pension credit and the housing benefit would both be unaffected, and you can do what you want with the money until the end of the AIP. .

[xylophone]

And see http://www.ageuk.org.uk/Documents/EN....pdf?dtrk=true

for a comprehensive explanation.

[Cougargb]

You might like to see the figures for 2015-2016

https://www.gov.uk/government/upload...15_to_2016.pdf

For those on Pension Credit Savings only, you will be shocked to see that the maximum you can get has been reduced from �20.70 pw to �17.43 pw

For me that means of the �301 a year increase of my pensions I will only get �124!

IMHO that is SCANDALOUS!

The fat cats get richer and the pensioners poorer!