Savings Credit

LaRoux · 15 November 2018 at 4:31PM

I was made redundant in December last year so a claim for Housing Benefit, Council Tax Benefit and Pension Credit was awarded.
The claim is for me and hubby, I am over 65 and the claim is in my name. We get Pension Credit of £10 per week.
We have savings of under £10000 now it was just above that when the claim was awarded which was around March time.
I keep reading that Savings Credit can be applied for if one partner was of pension age before 2016, Ive been told Im not entitled to it but don't understand why.
Can anyone tell me please?

anmarj · 15 November 2018 at 4:46PM

As much as the name states its not about savings, it is about your qualifing income for that part. So state pension, private/work Pensions/tarrif income from capital, but there are benefits which belong to working age which do not form part of qualifying income. If you do not have enough qualfing income you cant get savings credit elements, the pension credit award notice has a “q” next to your qualifing income.

anmarj · 15 November 2018 at 4:49PM

https://www.moneysavingexpert.com/savings/pension-credit/ This tells you what the current minimum weekly qualifing income is for couples to a maximum

xylophone · 15 November 2018 at 5:25PM

https://www.ageuk.org.uk/globalassets/age-uk/documents/factsheets/fs48_pension_credit_fcs.pdf

See page 18 of above.

LaRoux · 15 November 2018 at 5:50PM

Anmarj in reply to your helpful post.

I have calculated what our income is in benefits we get 112.55 over the joint amount allowed, 60p for every £ is 6.72, but we get nothing.

Think I need to call them to clarify, thanks.

Alice_Holt · 15 November 2018 at 6:01PM

Have you asked them why you don't qualify for Savings Pension Credit.

What age were you on 6 April 2016?
What age was your partner on 6 April 2016?

https://www.ageuk.org.uk/information-advice/money-legal/benefits-entitlements/pension-credit/

sheramber · 15 November 2018 at 6:55PM

https://www.citizensadvice.org.uk/benefits/older-people/benefits-for-older-people/

f you are a couple where one person reached State Pension age before 6 April 2016 and the other on or after 6 April 2016, you can only get Savings Credit if one of you was already getting it immediately before 6 April 2016 and has been entitled to it at all times since 6 April 2016.

This is confirmed here
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/687298/pension-credit-detailed-guide-pc10s.pdf

Changes to Savings Credit
As part of the Pensions Act 2014, the savings credit element of Pension
Credit has closed to people who reach State Pension age on or after 6 April
2016. People who are already getting their State Pension, or who reached
State Pension age before the new State Pension was introduced on 6 April
2016, will continue to have access to savings credit in line with the present
rules. However if they are a member of a couple and the other member
reaches State Pension age on or after 6 April 2016, they will not have access
to savings credit unless they were awarded savings credit before that date
and have remained continuously entitled to it since then.

DerbyPensioner · 16 July 2020 at 10:33AM

Please make it clear that Savings Credit is an element of Pension Credit. Both MSE site and the Government site are ambiguous.

poppy12345 · 16 July 2020 at 10:37AM

DerbyPensioner said:

Please make it clear that Savings Credit is an element of Pension Credit. Both MSE site and the Government site are ambiguous.

If you have any questions please start your own thread. You've posted on the end of a thread that's 18 months old.

Savings Credit

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