Reaching pension age

NewPen

I am shortly due to reach pension age and have a couple of questions that I'm hoping someone here can answer.

Firstly, I have spent an age searching but I can find no information whatsoever about when pension credit ends. There are hundreds of pages explain when you can get it but none mention an end date.

I'm absolutely certain that they will not keep paying pension credit and pension but can't find a single word about how to make a smooth transition from pension credit to pension.

Secondly, when I ask for a forecast I'm told that my pension will be £185 a week, despite the stated maximum being £159.55 and only having 32 years NI because of working abroad.


I would be most grateful if anyone could shed any light on these questions.

Linton

NewPen wrote: »

......

Secondly, when I ask for a forecast I'm told that my pension will be £185 a week, despite the stated maximum being £159.55 and only having 32 years NI because of working abroad.


I would be most grateful if anyone could shed any light on these questions.

As you spent most of your time working under the old State Pension scheme you presumably will have accrued a fair amount of SERPs/S2P. If in April 2016 your old state pension with SERPS exceeded the value calculated under the new scheme without SERPs you were credited with the old value. The principle being that bringing in a new scheme should not give you less than you have already earned.

xylophone

Your weekly state pension will be more than your "appropriate minimum guarantee"?
https://www.ageuk.org.uk/globalassets/age-uk/documents/factsheets/fs48_pension_credit_fcs.pdf

sleepless_saver

xylophone wrote: »

Your weekly state pension will be more than your "appropriate minimum guarantee"?
https://www.ageuk.org.uk/globalassets/age-uk/documents/factsheets/fs48_pension_credit_fcs.pdf

More than the minimum for a single person. We don't know if there is a partner.

xylophone

More than the minimum for a single person. We don't know if there is a partner.

We don't know what his particular MIG is either.

Full details in linked fact sheet.

Alice_Holt

If you are in receipt of Guaranteed Pension Credit, your entitlement will end when your income (including SP) takes you above your GPC applicable amount.
You will need to advise PC of your new income details at 65.
If you fail to notify the DWP of changes and consequently are overpaid PC - then the DWP will expect you to pay it back.

Re; Savings Pension Credit -
"Most people who reached State Pension age on or after 6 April 2016 won’t be eligible for Savings Credit. But you may continue to get Savings Credit if both of the following apply:
you’re in a couple and one of you reached State Pension age before 6 April 2016
you were getting Savings Credit up to 6 April 2016
If you stop being eligible for Savings Credit for any reason, you won’t be able to get it again."
So, effectively SPC has ended for those reaching 65 after April 2016.

There is no end date for GPC.

Your question is rather vague - can you be more precise and give us details of your situation.
I have assumed from your question that your are receiving PC - is this right?
Are you married or single?

P933alilli

Hi, this isn't related to the thread and as far as I know hasn't been discussed anywhere else, but when you reach state pension age does the pension start on your birthday, the start of the tax year in that year or the start of the next tax year (ie april 5th)

xylophone

but when you reach state pension age does the pension start on your birthday, the start of the tax year in that year or the start of the next tax year (ie april 5th)

https://www.pensionsadvisoryservice.org.uk/about-pensions/the-state-pension/how-is-it-paid

https://www.gov.uk/new-state-pension/what-youll-get

You can ask for it to be paid weekly/fortnightly if you wish but must specifically request this when you claim.

https://www.ageuk.org.uk/Documents/EN-GB/Factsheets/FS19_State_Pension_fcs.pdf?dtrk=true