Basic state pension

MEConfusedaboutpensions

Posting for a friend 

Hi

I was wondering if any of you guys could help me.

I am 80 years old and I received the basic state pension, the old style pension.

I also get savings pension credit on top. Around £12.

If I make money in addition to getting my basic state pension, would my pension be affected or compromised in anyway. Of course, I might be charged income tax, corporation tax etc.

But my question is specifically regarding any impact on my basic state pension.

Thank you

FrugaiMacDugal

No, it won't affect your state pension, though, depending on earnings there may be a tax liability.

Once the late risers get up you may get a more detailed reply.

Aretnap

State pension is not means tested. You can have no other income or you can be earning a million pounds per year - it makes no difference to the amount of state pension you can claim. 

It might make a difference to your eligibility for pension credit, and to the amount of tax you have to pay, of course. 

You said in your other thread that you were born in 1961 which doesn't quite fit with being 80 - which is correct? (It affects your eligibility for a number of things) 

https://forums.moneysavingexpert.com/discussion/6595489/pension-credit-and-ni-i-dont-understand

p00hsticks

Aretnap said:

You said in your other thread that you were born in 1961 which doesn't quite fit with being 80 - which is correct? (It affects your eligibility for a number of things) 

I suspect that the 1961 is a typo because those born in 1961 aren't even at State Pension Age yet, let alone getting the pre-2016 'basic' State Pension....

xylophone

The OP does not mention Guarantee PC so presumably his state pension/income is higher than just BSP.

He receives Savings PC which is only available to those who reached spa pre 6/4/16.

https://www.gov.uk/government/publications/pension-credit-technical-guidance/a-detailed-guide-to-pension-credit-for-advisers-and-others

                                                                Single                                                                                         Married

Savings Credit	A credit of 60p for every £1 of income between  £198.27 per  week and £227.10 per week.	A credit of 60p for every £1 of income between £314.34 per week and £346.60 per  week.
Savings Credit reduction	A reduction of 40p for every £1 of income greater than  £227.10 per week	A reduction of 40p for every £1 of income greater than £346.60 per  week.
Capital limit	£10,000 - Any amount over this amount is assessed as income at a rate of £1 for every £500.00  held.	£10,000 - Any amount over this limit is assessed as  income at a rate of £1 for every £500.00  held.
Maximum Savings Credit	£17.30 a week.	£19.36 a week.

anniecave

So if OP is definately receiving the above Pension Credit benefit then an additional source of income would affect the Pension Credit 

jem16

p00hsticks said:

Aretnap said:

You said in your other thread that you were born in 1961 which doesn't quite fit with being 80 - which is correct? (It affects your eligibility for a number of things) 

I suspect that the 1961 is a typo because those born in 1961 aren't even at State Pension Age yet, let alone getting the pre-2016 'basic' State Pension....

Or is asking for a "friend". Or is a spammer/scammer considering he's posted on two other Facebook Public Groups as well. Time of post and spelling in another post suggest US based.

MEConfusedaboutpensions

I was asking for somebody else. They are 80. They aren't good at computers. They kept asking me, I didn't know the answer. I told them to send me their question, so I would post it for them.

I am not a spammer.

I am not American. 
Why would an American want to know this. Their system is prob  different 

They receive the savings pension credit because their pension is high because they have other pensions as well.

They don't get the pension credit that tops them up, due to the state position being low. 

They get above that threshold. The maximum savings pension credit anybody can get is £17 per month.

MEConfusedaboutpensions

jem16 said:

p00hsticks said:

Aretnap said:

You said in your other thread that you were born in 1961 which doesn't quite fit with being 80 - which is correct? (It affects your eligibility for a number of things) 

I suspect that the 1961 is a typo because those born in 1961 aren't even at State Pension Age yet, let alone getting the pre-2016 'basic' State Pension....

Or is asking for a "friend". Or is a spammer/scammer considering he's posted on two other Facebook Public Groups as well. Time of post and spelling in another post suggest US based.

Yes, I did post my question on Facebook. I didn't know this wasn't allowed ?

jem16

MEConfusedaboutpensions said:

jem16 said:

p00hsticks said:

Aretnap said:

You said in your other thread that you were born in 1961 which doesn't quite fit with being 80 - which is correct? (It affects your eligibility for a number of things) 

I suspect that the 1961 is a typo because those born in 1961 aren't even at State Pension Age yet, let alone getting the pre-2016 'basic' State Pension....

Or is asking for a "friend". Or is a spammer/scammer considering he's posted on two other Facebook Public Groups as well. Time of post and spelling in another post suggest US based.

Yes, I did post my question on Facebook. I didn't know this wasn't allowed ?

Nothing wrong in it at all but why not just say you were posting for a friend rather than pretend to be the friend?  It gives rise to suspicion when things don’t tally. 

MEConfusedaboutpensions

jem16 said:

MEConfusedaboutpensions said:

jem16 said:

p00hsticks said:

Aretnap said:

You said in your other thread that you were born in 1961 which doesn't quite fit with being 80 - which is correct? (It affects your eligibility for a number of things) 

I suspect that the 1961 is a typo because those born in 1961 aren't even at State Pension Age yet, let alone getting the pre-2016 'basic' State Pension....

Or is asking for a "friend". Or is a spammer/scammer considering he's posted on two other Facebook Public Groups as well. Time of post and spelling in another post suggest US based.

Yes, I did post my question on Facebook. I didn't know this wasn't allowed ?

Nothing wrong in it at all but why not just say you were posting for a friend rather than pretend to be the friend?  It gives rise to suspicion when things don’t tally. 

Understood