welfare rights training 2010

Welfare Rights Training 2010Welfare Rights Training 2010

Pension CreditPension Credit

Guarantees all Pensioner’s a minimum Guarantees all Pensioner’s a minimum weekly incomeweekly income

NOTE: NOTE: Pensioner’s means those men and women Pensioner’s means those men and women

who have reached the new retirement age who have reached the new retirement age for women from April 2010for women from April 2010

PENSION CREDITPENSION CREDIT

This is a brief guide to Pension CreditThis is a brief guide to Pension Credit

Type:Type:

Non-contributory. Income related & means Non-contributory. Income related & means tested.tested.

Taxable:Taxable: No No

Pension Credit (PC) has two parts: Pension Credit (PC) has two parts:

Guarantee Credit -Guarantee Credit - is for men and women over is for men and women over pension age (Previously 60) and is calculated in a pension age (Previously 60) and is calculated in a similar way to Income Support. An amount known similar way to Income Support. An amount known as an 'appropriate minimum guarantee' is as an 'appropriate minimum guarantee' is calculated. If your income is below this minimum calculated. If your income is below this minimum guarantee, the Guarantee Credit makes up the guarantee, the Guarantee Credit makes up the difference. difference.


Savings CreditSavings Credit –gives you extra money if you have –gives you extra money if you have saved for retirement. It will only be paid if you or saved for retirement. It will only be paid if you or your partner are over 65. It is intended to 'reward' your partner are over 65. It is intended to 'reward' you for having income from earnings, savings or you for having income from earnings, savings or pensions over the level of the basic State Pension.pensions over the level of the basic State Pension.


You can get both of these parts if you satisfy theYou can get both of these parts if you satisfy therules. If you get Guarantee Credit you can berules. If you get Guarantee Credit you can bepassported to other benefits in a similar way topassported to other benefits in a similar way toIncome Support (IS). In some cases Savings CreditIncome Support (IS). In some cases Savings Creditalone will be sufficient to do this.alone will be sufficient to do this.


Who can claim Pension Credit?Who can claim Pension Credit?

To claim PC you must be aged over Pension age To claim PC you must be aged over Pension age (previously 60) or over 65 for Savings Credit. If you (previously 60) or over 65 for Savings Credit. If you have a partner, they can be younger than you. have a partner, they can be younger than you.

You must be present in Great Britain, habitually You must be present in Great Britain, habitually resident and not be subject to immigration control, in resident and not be subject to immigration control, in the same way as for IS. PC can be paid for the first the same way as for IS. PC can be paid for the first 13 weeks of a temporary absence from Britain. 13 weeks of a temporary absence from Britain. Unlike IS, PC claimants can work more than 16 Unlike IS, PC claimants can work more than 16 hours a week. hours a week.


Guarantee CreditGuarantee CreditGuarantee Credit is calculated by comparing your Guarantee Credit is calculated by comparing your

weekly appropriate minimum guarantee amount weekly appropriate minimum guarantee amount with your income. Your minimum guarantee always with your income. Your minimum guarantee always includes a 'standard minimum guarantee'. includes a 'standard minimum guarantee'.

This is set at two rates: This is set at two rates: £132.60 for single claimants £132.60 for single claimants £202.40 for couples. £202.40 for couples.

These figures are the same as the IS personal These figures are the same as the IS personal allowance and pensioner premium combined.allowance and pensioner premium combined.

Additional amounts are added and paid:Additional amounts are added and paid: Severe disability (£53.65 for each qualifying Severe disability (£53.65 for each qualifying claimant or partner) claimant or partner)

Carers (£30.05 each)Carers (£30.05 each)

You qualify for these in the same way as for the Severe You qualify for these in the same way as for the Severe Disability and Carer premiums in IS. Disability and Carer premiums in IS.

If you have children you will need to claim Child Tax If you have children you will need to claim Child Tax Credit (CTC). Credit (CTC).

Guarantee CreditGuarantee Credit

The appropriate minimum guarantee will also The appropriate minimum guarantee will also include any eligible housing costs (Mortgage include any eligible housing costs (Mortgage Interest), calculated in the same way as for IS.Interest), calculated in the same way as for IS.

Guarantee CreditGuarantee Credit

Savings CreditSavings CreditYou can get Savings Credit of up to £20.52 a You can get Savings Credit of up to £20.52 a

week if you are single or £27.09 if you are part week if you are single or £27.09 if you are part of a couple. of a couple.

You are likely to be entitled to some Savings You are likely to be entitled to some Savings Credit if as a single person your income is less Credit if as a single person your income is less than around £184 a week and if as a couple than around £184 a week and if as a couple your income is less than around £270 your income is less than around £270

However some disabled people, carers and However some disabled people, carers and homeowners with housing costs will be entitled homeowners with housing costs will be entitled to Savings Credit if their incomes are much to Savings Credit if their incomes are much higher than these minimum levels.higher than these minimum levels.

All assessments are based on the amount All assessments are based on the amount of of qualifying incomequalifying income weekly that you weekly that you have over a threshold figure which is: have over a threshold figure which is:

£98.40 for single claimants £98.40 for single claimants £157.25 for couples £157.25 for couples

If your qualifying income is below these If your qualifying income is below these thresholds you cannot get Savings Credit. thresholds you cannot get Savings Credit.

Savings CreditSavings Credit

Sample calculations - single people Sample calculations - single people

If you are single and your qualifying If you are single and your qualifying income is more than £98.40 a week but income is more than £98.40 a week but less than £132.60 you will normally less than £132.60 you will normally receive 60% or 60p Savings Credit for receive 60% or 60p Savings Credit for every £1 of your income you have over every £1 of your income you have over the £98.40. the £98.40.

Savings CreditSavings Credit

Example 1Example 1Mr Brown has a state pension of £98.40 a week Mr Brown has a state pension of £98.40 a week

and an occupational pension of £25 a week making and an occupational pension of £25 a week making £123.40 weekly. £123.40 weekly.

He will receive £9.20 Guarantee Credit to bring his He will receive £9.20 Guarantee Credit to bring his weekly income of £123.40 up to the single person's weekly income of £123.40 up to the single person's rate of £132.60 rate of £132.60

He will also get £15.00 Savings Credit (60% or 60p He will also get £15.00 Savings Credit (60% or 60p for every £1 of his qualifying income over £98.40 for every £1 of his qualifying income over £98.40 which is £25 x 60% = £15) making his total weekly which is £25 x 60% = £15) making his total weekly income £132.60 + £15 = £157.60. income £132.60 + £15 = £157.60.

If your weekly income was exactly £132.60 you will If your weekly income was exactly £132.60 you will normally receive the maximum weekly Savings normally receive the maximum weekly Savings Credit of £20.52 Credit of £20.52

If you are single and your weekly income was more If you are single and your weekly income was more than £132.60, the maximum Savings Credit of than £132.60, the maximum Savings Credit of £20.52 is reduced by 40% or 40p for every £1 of £20.52 is reduced by 40% or 40p for every £1 of weekly income you have over £132.60 weekly income you have over £132.60

Normally if your income is £184 or above you will Normally if your income is £184 or above you will not be entitled to Savings Credit.not be entitled to Savings Credit.

Mrs Gray has a weekly income of £152.60 Mrs Gray has a weekly income of £152.60 from her state and private pension. from her state and private pension.

This is £20 more than £132.60 so her This is £20 more than £132.60 so her maximum weekly Savings Credit of £20.52 is maximum weekly Savings Credit of £20.52 is reduced by £8 (40% or 40p for every £1 of the reduced by £8 (40% or 40p for every £1 of the £20 excess). £20 excess).

She will now get Savings Credit of £12.52 She will now get Savings Credit of £12.52 weekly (£20.52 - £8).weekly (£20.52 - £8).

Example 2Example 2

Sample calculations - couplesSample calculations - couples

If you are part of a couple and your joint If you are part of a couple and your joint qualifying income is more than £157.25 qualifying income is more than £157.25 a week but less than £202.40 you will a week but less than £202.40 you will normally receive 60% or 60p Savings normally receive 60% or 60p Savings Credit for every £1 of income you have Credit for every £1 of income you have over £157.25 over £157.25

Example 3Example 3 Mr and Mrs Black have state pensions of £157.25 Mr and Mrs Black have state pensions of £157.25 and an occupational pension of £35 making a total and an occupational pension of £35 making a total of £192.25 a week. of £192.25 a week.

They will receive £10.15 Guarantee Credit to bring They will receive £10.15 Guarantee Credit to bring their pension incomes up to £202.40 their pension incomes up to £202.40

They will also receive £21 Savings Credit (60% or They will also receive £21 Savings Credit (60% or 60p for every £1 of the £35 qualifying income over 60p for every £1 of the £35 qualifying income over £157.25 making their total weekly income £223.40 £157.25 making their total weekly income £223.40 (£202.40 + £21).(£202.40 + £21).

If you are part of a couple and your joint qualifying If you are part of a couple and your joint qualifying income is exactly £202.40 weekly you will normally income is exactly £202.40 weekly you will normally receive the maximum Savings Credit for a couple of receive the maximum Savings Credit for a couple of £27.09 weekly. £27.09 weekly.

If you are part of a couple and your joint income is If you are part of a couple and your joint income is more than £202.40 weekly the maximum Savings more than £202.40 weekly the maximum Savings Credit of £27.09 is reduced by 40% or 40p for every Credit of £27.09 is reduced by 40% or 40p for every £1 that your income is over £202.40 £1 that your income is over £202.40

Normally if your income is about £270 weekly or Normally if your income is about £270 weekly or above you will not be entitled to Savings Credit.above you will not be entitled to Savings Credit.

Example 4 Example 4 Mr and Mrs White have State Pensions of Mr and Mrs White have State Pensions of

£157.25, an occupational pension of £30 and £157.25, an occupational pension of £30 and £25,000 savings (assumed to produce an £25,000 savings (assumed to produce an income of £38) making a total of £225.25 a income of £38) making a total of £225.25 a week. week.

This is £22.85 more than the Guarantee Credit This is £22.85 more than the Guarantee Credit level of £202.40 weekly level of £202.40 weekly

So the maximum Savings Credit of £27.09 is So the maximum Savings Credit of £27.09 is reduced by £9.14 (40% or 40p for every £1 of reduced by £9.14 (40% or 40p for every £1 of the £22.85 excess). They will receive Savings the £22.85 excess). They will receive Savings Credit weekly of £17.95 (£27.09 - £9.14) Credit weekly of £17.95 (£27.09 - £9.14)

Remember:Remember:

If you are disabled, a carer or a If you are disabled, a carer or a homeowner with certain housing costs homeowner with certain housing costs you may still get some Savings Credit you may still get some Savings Credit even if your income is a lot more than even if your income is a lot more than £184 as a single person or £270 as a £184 as a single person or £270 as a couplecouple

The difference betweenThe difference betweenqualifying income and incomequalifying income and income

Almost all your weekly income is used Almost all your weekly income is used to work out your entitlement to to work out your entitlement to Guarantee Credit. Guarantee Credit.

Only certain weekly qualifying income Only certain weekly qualifying income is used when working out your is used when working out your entitlement to Savings Credit.entitlement to Savings Credit.

Income counted in full for Guarantee Income counted in full for Guarantee Credit purposesCredit purposes

State pensions; State pensions; Occupational and private pensions; Occupational and private pensions; Annuities; Annuities; Retirement annuity contracts; Retirement annuity contracts; War disablement and war widow/ers (but see War disablement and war widow/ers (but see below for partial and complete disregards); below for partial and complete disregards); 0ther types of pensions including civil list 0ther types of pensions including civil list pensions and those paid to victims of Nazi pensions and those paid to victims of Nazi persecution; persecution;

includes:includes:

Income counted in full for Guarantee Income counted in full for Guarantee Credit purposesCredit purposes

Most social security benefits (except those Most social security benefits (except those listed below); listed below); Earnings (but see below for disregards); Working tax credit; Payments from boarders, lodgers or sub-tenants (but see below for disregards); Regular payments from trust funds in most Regular payments from trust funds in most circumstances – but see below; circumstances – but see below; Payments from a spouse or former spouse; Payments from a spouse or former spouse; ‘‘Deemed / tariff income‘ from capital over Deemed / tariff income‘ from capital over £10,000.£10,000.

Disregarded income includes:Disregarded income includes:Attendance Allowance and Disability Living Attendance Allowance and Disability Living

Allowance; Allowance; Housing benefit and council tax benefit; Housing benefit and council tax benefit; Christmas bonus; Christmas bonus; Social fund payments including the Winter Fuel Social fund payments including the Winter Fuel

Payment;Payment;Child benefit and Child Special Allowance; Child benefit and Child Special Allowance; Increases for dependent children paid with Increases for dependent children paid with

certain other benefits; certain other benefits; Charitable and voluntary payments (except for Charitable and voluntary payments (except for

voluntary payments from a spouse or former voluntary payments from a spouse or former spouse, which are counted in full); spouse, which are counted in full);

•Payments, other than social security benefits or war Payments, other than social security benefits or war pensions, paid as a result of a personal injury that you or your pensions, paid as a result of a personal injury that you or your partner receive; partner receive;

•Income from certain types of equity release schemes that do Income from certain types of equity release schemes that do not provide an income through an annuity; not provide an income through an annuity;

•Actual income from capital; Actual income from capital;

•The War Widow's/Widower's Supplementary Pension and The War Widow's/Widower's Supplementary Pension and some additions paid with war disablement pensions; some additions paid with war disablement pensions;

•Payments from your local authority social services Payments from your local authority social services department for personal care; department for personal care;

Any other types of income that are not specified in the Any other types of income that are not specified in the legislation as being countedlegislation as being counted. .

Disregarded income includes:Disregarded income includes:

Partially disregarded income includes:Partially disregarded income includes:

£5 of your earnings from work if you are single or £10 if you £5 of your earnings from work if you are single or £10 if you are a couple. A higher £20 disregard applies in some are a couple. A higher £20 disregard applies in some situations - for example for some disabled people or carers. situations - for example for some disabled people or carers. The rules are similar to those for income support but there The rules are similar to those for income support but there are minor differences; are minor differences;

£10 of the total of any income from a war £10 of the total of any income from a war widow's/widower's pension, war disablement pension; widow's/widower's pension, war disablement pension; pension paid for victims of Nazi persecution or widowed pension paid for victims of Nazi persecution or widowed parents/mother's allowance; parents/mother's allowance;

£20 payment from a tenant, sub-tenant or boarder and, in £20 payment from a tenant, sub-tenant or boarder and, in the case of a boarder half of any payment above £20 is the case of a boarder half of any payment above £20 is also ignored. The disregard applies to each tenant and/or also ignored. The disregard applies to each tenant and/or boarder making payments; boarder making payments;

If you have used the equity in your home to buy an If you have used the equity in your home to buy an annuity, any part of the income that is being used to pay annuity, any part of the income that is being used to pay the interest on the loan is ignored. the interest on the loan is ignored.

Income from trust funds will be ignored if the trust fund Income from trust funds will be ignored if the trust fund was set up from a lump sum received for a personal was set up from a lump sum received for a personal injury. In other situations trust fund income is generally injury. In other situations trust fund income is generally taken into account but there are some exceptions for taken into account but there are some exceptions for discretionary payments.discretionary payments.

Qualifying income for Savings Credit is more or less the Qualifying income for Savings Credit is more or less the same as the income used to calculate Guarantee Credit same as the income used to calculate Guarantee Credit but does not include Incapacity Benefit, Contribution but does not include Incapacity Benefit, Contribution Based ESA, Severe Disablement Allowance, Working Tax Based ESA, Severe Disablement Allowance, Working Tax Credit, Contribution Based Jobseeker's Allowance, Credit, Contribution Based Jobseeker's Allowance, Maternity Allowance and any maintenance payments (it Maternity Allowance and any maintenance payments (it also does not include any top up of Guarantee Credit). also does not include any top up of Guarantee Credit).

Partially disregarded income includes:Partially disregarded income includes:

Capital / SavingsCapital / Savings• If you have capital of more than £10,000 this will If you have capital of more than £10,000 this will

affect your Pension Credit. You will be counted as affect your Pension Credit. You will be counted as having an extra £1 a week income for every £500 (or having an extra £1 a week income for every £500 (or part of £500) over £10,000. There is no upper capital part of £500) over £10,000. There is no upper capital limit for Pension Credit. limit for Pension Credit.

Capital includes cash, bank and building society Capital includes cash, bank and building society savings, National Savings accounts and certificates; savings, National Savings accounts and certificates; stocks and shares, premium bonds, income bonds stocks and shares, premium bonds, income bonds and property (other than your home). It is usually and property (other than your home). It is usually valued at its current market or surrender value less valued at its current market or surrender value less 10% if there would be costs involved in selling and 10% if there would be costs involved in selling and less any debt secured on the property. If you own less any debt secured on the property. If you own capital jointly with other people you will normally all capital jointly with other people you will normally all be assessed as having an equal share. Some capital be assessed as having an equal share. Some capital is disregarded. is disregarded.

Example 1Example 1

Mr Legato has savings of £11,500, that is £1,500 above Mr Legato has savings of £11,500, that is £1,500 above £10,000. He is considered to have "deemed income" of £10,000. He is considered to have "deemed income" of £3 (£1 for each £500 above £10,000). £3 (£1 for each £500 above £10,000).

Example 2Example 2

Ms Adage has savings of £11,501, that is £1,501 above Ms Adage has savings of £11,501, that is £1,501 above £10,000. She is considered to have "deemed income" of £10,000. She is considered to have "deemed income" of £4 because any savings that include parts of £500 are £4 because any savings that include parts of £500 are rounded up to the nearest £500. So £1,501 is considered rounded up to the nearest £500. So £1,501 is considered to be just the same as if she had £2000 savings when to be just the same as if she had £2000 savings when calculating deemed income.calculating deemed income.

How to claimHow to claim

You can claim in the following ways:You can claim in the following ways:

call Free phone 0800 99 1234 (text 0800 169 call Free phone 0800 99 1234 (text 0800 169 0133); 0133);

complete and send in the tear-off coupon in complete and send in the tear-off coupon in leaflet “PC 1L Pick it up its yours” available from leaflet “PC 1L Pick it up its yours” available from post offices; post offices;

print out or fill in the claim form on-line; print out or fill in the claim form on-line;

at an advice centre. at an advice centre.

Backdating and advance claimsBackdating and advance claims

Pension Credit can be fully backdated for up Pension Credit can be fully backdated for up to 3 months if you have met the qualifying to 3 months if you have met the qualifying conditions throughout the whole period. conditions throughout the whole period.

If you are going to become eligible for PC in If you are going to become eligible for PC in the future - for instance because your nearing the future - for instance because your nearing Pension age (Previously 60) or you are about Pension age (Previously 60) or you are about to have a drop in income - you can make a to have a drop in income - you can make a claim up to 4 months in advance of this claim up to 4 months in advance of this change. change.

The assessed income period and The assessed income period and change of circumstanceschange of circumstances

If you are over the age of 65 you may be given an If you are over the age of 65 you may be given an award that lasts for up to 5 years (From April 2009 award that lasts for up to 5 years (From April 2009 indefinitely if over 75). This is known as the indefinitely if over 75). This is known as the Assessed Income Period (AIP). During this period Assessed Income Period (AIP). During this period annual adjustments will be made automatically for annual adjustments will be made automatically for increases in your state and private pensions but you increases in your state and private pensions but you do notdo not need to report changes such as increases in need to report changes such as increases in your savings or pension income. If your income your savings or pension income. If your income goes down you will be able to ask for your benefit to goes down you will be able to ask for your benefit to be reassessed. You also need to report certain be reassessed. You also need to report certain changes such as if you move home, marry, are changes such as if you move home, marry, are widowed, your earnings change or you go into widowed, your earnings change or you go into hospital.hospital.

Remember this paragraph please!Remember this paragraph please!

In hospitalIn hospital

You can continue to receive Pension Credit if You can continue to receive Pension Credit if you are in hospital but you will lose any severe you are in hospital but you will lose any severe disability addition you get after 28 days, when disability addition you get after 28 days, when you’re Attendance Allowance or Disability Living you’re Attendance Allowance or Disability Living Allowance stops. You may also lose any carers Allowance stops. You may also lose any carers addition that you have.addition that you have.

If you disagree with a PC decisionIf you disagree with a PC decision

If you disagree with the decision you have one If you disagree with the decision you have one calendar month from the date of the decision calendar month from the date of the decision to ask the decision maker to reconsider the to ask the decision maker to reconsider the decision. You can do this by telephoning or in decision. You can do this by telephoning or in writing. writing.

If, after the decision maker has reconsidered If, after the decision maker has reconsidered your case, you are still not satisfied you can your case, you are still not satisfied you can appeal in writing, using form GL24. You will appeal in writing, using form GL24. You will have one calendar month from the date of the have one calendar month from the date of the reconsidered decision.reconsidered decision.

Interaction with Housing and Council Tax BenefitInteraction with Housing and Council Tax Benefit

The Government has introduced changes to the Housing Benefit and Council Tax The Government has introduced changes to the Housing Benefit and Council Tax Benefit rules from October 2003 to mirror the rules on the treatment of income Benefit rules from October 2003 to mirror the rules on the treatment of income and capital in Pension Credit. and capital in Pension Credit.

If you are entitled to the Guarantee Credit or Guarantee and Savings Credit you If you are entitled to the Guarantee Credit or Guarantee and Savings Credit you will normally be entitled to full Housing Benefit and Council Tax Benefit. will normally be entitled to full Housing Benefit and Council Tax Benefit.

If you If you only getonly get the Savings Credit, you will need to make a Housing benefit claim. the Savings Credit, you will need to make a Housing benefit claim.

Although Housing and Council Tax Benefit will take any Savings Credit paid in to Although Housing and Council Tax Benefit will take any Savings Credit paid in to account as income in your HB & CT calculations, you will be given the full Single account as income in your HB & CT calculations, you will be given the full Single (£20.52) or Couple (£27.09) allowance as an extra disregard in the HB or CT (£20.52) or Couple (£27.09) allowance as an extra disregard in the HB or CT calculation, so should never be any worse off financially.calculation, so should never be any worse off financially.

The Pension Service will collect and pass on information to local authorities and The Pension Service will collect and pass on information to local authorities and in Savings Credit only cases, the local authority in Savings Credit only cases, the local authority will be requiredwill be required to use The to use The Pension Service’s assessment of your income and capital for HB & CT claims.Pension Service’s assessment of your income and capital for HB & CT claims.

This should greatly reduce the amount of information that you have to provide to This should greatly reduce the amount of information that you have to provide to the local authority with any future benefit claim.the local authority with any future benefit claim.

MAIN CHANGES IN PENSION CREDIT?MAIN CHANGES IN PENSION CREDIT?

No additions for any children, Tax Credits have to No additions for any children, Tax Credits have to be claimed.be claimed.

For Guarantee Credit there is no upper capital / For Guarantee Credit there is no upper capital / savings limit if Guarantee Credit is paid.savings limit if Guarantee Credit is paid.

Capital / savings limits still apply for Housing & Capital / savings limits still apply for Housing & Council Tax benefit if Guarantee Credit is not paid.Council Tax benefit if Guarantee Credit is not paid.

Capital over £10,000 now gives a tariff income of Capital over £10,000 now gives a tariff income of £1 per £500 over the £10,000 lower capital limit. £1 per £500 over the £10,000 lower capital limit.

Working over 16 or 24 hours will not stop a claim.Working over 16 or 24 hours will not stop a claim.

Over 65’s get an extra amount, equivalent to the maximum savings Over 65’s get an extra amount, equivalent to the maximum savings credit, for singles (£20.52) or couples (£27.09) weekly included credit, for singles (£20.52) or couples (£27.09) weekly included within any Housing & Council Tax calculation. This applies even if within any Housing & Council Tax calculation. This applies even if they do not claim any Pension Credit. they do not claim any Pension Credit.

New Non-Dependent deductions or any decreases in Housing & New Non-Dependent deductions or any decreases in Housing & Council Tax Benefit do not apply until 26 weeks have passed.Council Tax Benefit do not apply until 26 weeks have passed.

Once Pension Credit is claimed this should automatically give full Once Pension Credit is claimed this should automatically give full Housing & Council Tax benefit, with no need to re-claim ever in Housing & Council Tax benefit, with no need to re-claim ever in theory.theory.

No Non-Dependent deduction applies if the Non-Dependent has No Non-Dependent deduction applies if the Non-Dependent has Pension Credit Guarantee or Savings Credit.Pension Credit Guarantee or Savings Credit.

Savings Credit is to reward people with modest incomes who have Savings Credit is to reward people with modest incomes who have saved or worked hard for their retirement.saved or worked hard for their retirement.

MAIN CHANGES IN PENSION CREDIT?MAIN CHANGES IN PENSION CREDIT?

Savings Credit Summary:Savings Credit Summary:

They compare your income/s with the normal They compare your income/s with the normal Retirement Pension for your circumstances (single Retirement Pension for your circumstances (single £98.40 or couple’s £157.25). If you have qualifying £98.40 or couple’s £157.25). If you have qualifying income under this amount you get no Savings income under this amount you get no Savings Credit, if you have qualifying income over this Credit, if you have qualifying income over this amount and under the Guarantee Credit for your amount and under the Guarantee Credit for your circumstances (Single £132.60 Minimum or Couple’s circumstances (Single £132.60 Minimum or Couple’s £202.40 Minimum) you get rewarded with a 60% or £202.40 Minimum) you get rewarded with a 60% or 60p per £1 top up on the difference up to maximum 60p per £1 top up on the difference up to maximum set limits.set limits.

If you have over your Guarantee Credit amount they If you have over your Guarantee Credit amount they reduce your maximum Savings Credit top up by 40% reduce your maximum Savings Credit top up by 40% or 40p for every £1 of the excess until you lose it all.or 40p for every £1 of the excess until you lose it all.

ENDEND

Questions and Answers?Questions and Answers?

welfare rights training 2010

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