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11th April 2014 #1
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Pension Credit - Factsheet April 2014
This factsheet is about Pension Credit (PC), a benefit with two parts:-
PC Guarantee Credit provides a guaranteed level of income for people over the qualifying age, which is increasing at the same pace as the State Pension age for women. The qualifying age is 62 in April 2014 and will be 62 and 6 months by April 2015. PC Guarantee Credit is worked out by comparing your income with the amount the Government thinks you need to live on.
PC Savings Credit is paid to people aged 65 and over. It is worked out by looking at the level of retirement provision you have made. It may be paid as well as PC Guarantee Credit or on its own.
The information in this factsheet is correct for the period April 2014 – April 2015. Benefit rates are reviewed annually and take effect in April but rules and figures sometimes change during the year.
Here's the Factsheet in PDF format
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