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No Savings Credit after 2016?
Have I been living under a rock or did I completely miss this?
(from .gov)
https://www.gov.uk/pension-credit/eligibility
If you reach State Pension age on or after 6 April 2016
Most people won’t be eligible for Savings Credit.
You may still get Savings Credit if you’re part of a couple and 1 of you has reached State Pension age before 6 April 2016.
They’ve intended this for a while. They’ve been cutting Savings Credit year on year, and this, I think, is part of their ‘Pension Cedit Plus’ scheme, which would mean PC being guarantee-only, having amounts for kids and for housing costs (i.e. mortgage and rent) but i’ve seen very little about it for some time.
Gareth Morgan usually has the latest - calling Mr Morgan!
he’s away travelling - last post I saw in Hong Kong…
Now in Bangkok but you can’t escape. I’m glued to my laptop trying to monetise passported benefits.
Savings Credit will not be applicable to people reaching QASPC after April 2016. This is because those people will be receiving the new single-tier retirement pension. As that’s meant to be higher than the basic PC level (without mortgage, disability or caring additions and without children and rent when HPC appears) the argument for adding an amount to encourage low levels of pension or capital saving is believed to disappear. There was / is going to be a transitional five year period when SPC would continue for housing related amounts only (the new simple benefits system raises its head again) but that seems unlikely to be introduced now. It was going to compensate for the loss of the pensioner bit in HB that would vanish when HPC appeared and HB stopped but they now believe (cough) that HB for pensioners is likely to continue for long enough to make that unnecessary.
Dead simple then….enjoy your continued travels!
And watch out for those ladyboys. Unless of course….
What does HPC mean?
Housing Pension Credit. (and Bangkok has nothing on some pre-NAWRA evenings).
Now in Bangkok but you can’t escape. I’m glued to my laptop trying to monetise passported benefits.
Sa-wat-dee kraup, Gareth
I’ve been to Bangkok and seen quite a lot of things ‘monetised’, including passports. I’m sure that you could also monetise being glued to a laptop down a backstreet somewhere if that tickles your fancy…
There is some advice that I shall neither seek nor follow. Anyway, a nice man on the street has invited me to some sort of table-tennis game so that should be good healthy excercise.