Please enable JavaScript.
Coggle requires JavaScript to display documents.
Pension Credit - Coggle Diagram
Pension Credit
Run by The Pension Service
NOT TAXABLE
Standard Amount and Standard Minimum Guarantee
Guarantee Credit
Over State Pension Age
additional amount if disabled or caring for others
Free dental care
spectacles
Regarded as income for local authority funding
Savings Credit
Only available if reached SPA before April 2016
Designed to reward people who saved money
Some savings credit disregarded by local authority funding
Couple assessed together unless they live apart
If enter hospital disability component disappears after 28 days
Means tested
First £10k is ignored
Tariff income of £1/ £50o
Rounded up to nearest pound
eg. Capital of £18,600 = £18,000-£10,000 = £8,600/500 = £17.20
Exceptions for means testing
Persons house when they own and live in it
Surrender value of life assurance
10% selling expenses allowed
Exceptions - Attendance Allowance, PIP and contribution based ESA
someone on universal credit normally transfers straight to pension credit
Guarantee credit also entitles certain
other benefits such as council tax reduction / housing benefit
Possible to get additional from severe disability, as a carer or for housing costs