Pension credit - income eligibility threshold

pwe

It’s stated in many places, including here on MSE, that the weekly income threshold for a single person to be eligible for Pension Credit, is £218.15

However, in his weekend newspaper column, the other Mr Lewis (Moneybox) said yesterday that for most pensioners, this is incorrect, and that for those on the OLD state pension, the weekly income threshold is £260.68

I’d be most grateful if someone could please tell me what I’m clearly not understanding here 

with thanks, in hope 

hugheskevi

Those who reached State Pension age prior to April 2016 continued to be entitled to the Savings Credit component of Pension Credit, whereas younger retirees only get the Guarantee component. 

The Savings Credit gives up to £17.01 p/w in addition to the Guarantee Credit. It is tapered at 40%, so £17.01 / 0.4 = £42.535. Add that to £218.15 = £260.675. That means older single pensioners can receive Pension Credit (Savings Credit only) if their income is under £260 p/w.

There are also premia within Pension Credit for carers and the disabled and certain housing costs regardless of when they reached State Pension age, so those groups can receive Pension Credit with higher weekly incomes than £218.15.

pwe

Thank you for taking the time, I am very grateful, your insight will I’m sure get me across the line in terms of a full understanding, I can already start to join the dots based on what I’ve learnt from you