Is the pension credit cut off points increased annually

voddyman

Hi, Quick question, I know that at present the criteria for gaining pension credits is the following , Current rates Guarantee Credit The maximum weekly amounts for 2024/25 are: Single people £218.15 Couples £332.95.

So, does anyone know if the "cut-off points" are increased annually and, if so, how much are they increased?

Sarahspangles

voddyman said:

Hi, Quick question, I know that at present the criteria for gaining pension credits is the following , Current rates Guarantee Credit The maximum weekly amounts for 2024/25 are: Single people £218.15 Couples £332.95.

So, does anyone know if the "cut-off points" are increased annually and, if so, how much are they increased?

Tables are released annually but I believe it’s based on a budget decision. This release shows last year’s announcement comparing that tax year’s rates to this year’s.

https://www.gov.uk/government/publications/benefit-and-pension-rates-2024-to-2025/benefit-and-pension-rates-2024-to-2025

hugheskevi

They are increased annually, typically in line with earnings growth but it can vary depending on what is happening with State Pension uprating.

But that is not a cut-off point, as there are various premia within the benefit so many will be entitled to more than that rate, especially the disabled and carers.

voddyman

Sarahspangles said:

voddyman said:

Hi, Quick question, I know that at present the criteria for gaining pension credits is the following , Current rates Guarantee Credit The maximum weekly amounts for 2024/25 are: Single people £218.15 Couples £332.95.

So, does anyone know if the "cut-off points" are increased annually and, if so, how much are they increased?

Tables are released annually but I believe it’s based on a budget decision. This release shows last year’s announcement comparing that tax year’s rates to this year’s.

https://www.gov.uk/government/publications/benefit-and-pension-rates-2024-to-2025/benefit-and-pension-rates-2024-to-2025

Excellent, thank you for that info 

voddyman

hugheskevi said:

They are increased annually, typically in line with earnings growth but it can vary depending on what is happening with State Pension uprating.

But that is not a cut-off point, as there are various premia within the benefit so many will be entitled to more than that rate, especially the disabled and carers.

Thank you for that, I know that it is a very complicated issue this pension credit, but I am just contemplating whether it is worthwhile doing what Martin Lewis says and buying more national insurance contributions to increase her pension if I pass away before her, as her works pension is tiny [Around £170 a month], but I don't want to put her into the position where she will get to be over the pension credit limit.