The aim of pension credits is to:
- Ensure a minimum guaranteed income of £119.05 per week for a single pensioner 60+ and £181.70 per week for couples 60+.
- Reward people who have modest savings
- Significantly increase the number of pensioners who receive additional financial help
The government's pension service will administer pension credits and deal with:
- claims
- issue payments
- customer contact
The new pension credit has two parts:
- Guarantee credit
Guarantee Credit replaces Minimum Income Guarantee and depending on your circumstances could still mean entitlement to 100% housing and council tax benefit.
- Savings credit
Savings credit is a new government allowance rewarding savings and second pensions for pensioners who are 65 or over.
The pension credit hotline operated by the government's pension service is 0800 028 1111. Please note that this is not a Guildford Borough Council service.
You can also visit The Pension Service Website.