Pension Credit V State Pension

alanrp123

Is there any difference between these 2 different amounts, there seems to be a big discrepancy between my pension credit, that I have been receiving, and the amount the government say I will receive after I am 65, which is in 4 weeks time.

Oldernotwiser

A difference for better or for worse?

alanrp123

Either, I just wish to know the answer.
Thanks!!

bjo_2

alanrp123 wrote: »

Either, I just wish to know the answer.
Thanks!!

It will be a lot less but you can claim income support to top it up to get what you are getting now.
will be in same position shortly

bjo

real1314

Over 60s do not get Income Support, they get.......

Pension Credit.

OP, your State Pension will be paid and then your Pension Credit will be adjusted to give you the same overall income as a minimum.

Assuming you're a bloke and are nearing 65, you may find that in addition to the Pension Credit Guarantee Credit you currently receive, you may also get a Pension Credit Savings Credit element that will give you a slightly higher income than at the moment.

EdInvestor

If your state pension is well below your pension credit income and you have no other income, then the state will top up your pension to what you are receiving now, ie there will be no change except that the state pension amount is yours by right, not means tested..