Updated 13th August 2004
What is Pension Credit?
Pension Credit is a new entitlement for people aged 60 and over.
It guarantees everyone aged 60 and over an income of at least:
- £105.45 a week if you are single; or
- £160.95 a week if you have a partner.
You may be entitled to more than this depending on your circumstances.
For the first time, people aged 65 and over who have modest savings, investments or income – such as a second pension or an annuity – could get extra money as well.
This could be up to:
- £15.51 a week if you are single; or
- £20.22 a week if you have a partner.
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Are you entitled to Pension Credit?
You need to add up your weekly and assume income from savings.
Your Income:
- Pensions (including state Pension, a work pension or a personal pension)
- Certain benefits (Carer’s Allowance and Bereavement Benefits)
- Earning from job.
Not counted as income:
- Attendance Allowance;
- Disability Living Allowance;
- Housing or Council Tax Benefits;
Saving and Investments:
- Money in a bank, building Society or Post Office accounts;
- Any saving at home;
- National Saving Certificates, Premium Bonds;
- Investments like ISAs and PEPs;
- Income bonds, capital bonds or granny bonds;
- Shares and unit trusts;
- Property and land (but not including the place where you normally live).
£1.00 a week for every £500 or part of £500 over £6000 (£10,000 if you live permanently in a care home) is counted as assumed income.
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How to apply?
Pension Credit started from October 2003, as long as you apply before October 2004, any money due to you will be backdated to October 2003 or the date of your entitlement if that is later.
Phone the Pension Credit Application Line on 0800 99 1234 to apply.
If you have speech or hearing difficulties, the textphone number is 0800 169 0133.
You will need the following details when you phone:
- Your National Insurance Number;
- Information about any money coming in;
- Information about any saving and investments.
If you would prefer, you can ask someone else to call on your behalf.
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Call us on 020 8653 5974
The help line is open
Monday - Friday 9:30 a.m. to 5:00 p.m.
For further information write to us at
info@oewa.org.uk |
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