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FT Guide to Pensions and Wealth in Retirement, 2nd Edition by Mr. John Greenwood

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11

Pension Credit and means-testing

What topics are covered in this chapter?

Extra money for lower income pensioners

Pension Credit is a means-tested benefit paid to people over the age of 60 whose income falls below a certain minimum. In future, however, the age from which you can claim Pension Credit is increasing in line with the state pension age for women (see Chapter 10), first to 65, then 66 and ultimately to 68. Most of us hope not to have to rely on state benefits in retirement, but today around 45 per cent of pensioners are eligible ...

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