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Benfits for pensioner with savings?
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My home is also mortgage-free; I am 73 years of age, widowed, and my income is £648 per 4 weeks state pension and £142 per month private pension. My only other benefit is the 25% discount on sole occupancy council tax. And my personal savings are now less than £4,000.
Like me, you are above the threshold for receiving Pension Credit. But with me, it wasn't always so.
I took early forced retirement at the age of 60, and received only my private pension of £57 per week. I applied and received Pension Credit, which took my weekly income up to about £140pw. On top of this I received 100% council tax rebate.
The day of my 65th birthday dawned and I started to receive my full state pension of £190 a week as I wasn't contracted out of SERPS. So my Pension Credit stopped immediately, along with it's other benefits.
At all times, my savings were above the £16k limit, which resulted in my PC being reduced."There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock0
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