Pension Credit is
an entitlement for people aged 60 and over, which came into
effect from 6
th October 2003.
There are two
elements of Pension Credit: -
Guarantee Credit
This ensures that all customers aged
60 and over receive a minimum level of income, it replaces
Minimum Income Guarantee.
Savings Credit
This provides additional income to
reward customers who are aged 65 and over, who have made
some provision for their retirement by having, for example,
a small private pension and / or some savings.
Pension Credit is payable from the date you
became a pensioner, or for a period of upto 12 months
prior to the date you claim if you are already a
pensioner.
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