11
Pension Credit and means-testing
What topics are covered in this chapter?
- Extra money for lower income pensioners
- How Pension Credit works
- Pension Credit, means-testing and the disincentive to save
- Pension Credit, means-testing and automatic enrolment
- Should I opt out of Nest?
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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