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June 5th '08    Thanks to John Wing

What is Pension Credit?

Pension Credit is an entitlement for people aged 60 or over living in Great Britain. This could mean extra money for you every week. Pension Credit guarantees everyone aged 60 and over an income of at least:

Also, if you or your partner are 65 or over you may be rewarded for saving for your retirement, up to:

If you apply for Pension Credit and are eligible, you may receive a payment backdated for up to 12 months from the day you were first entitled to the date you first applied.

From 6 October 2008, we propose to change this period from 12 months to three months. If you want to apply for more than three months in the past, please make sure we get your application before 6 October 2008.

To apply for Pension Credit, you must be at least 60 or within four months of your 60th birthday. It does not matter if your partner is under 60.

We use “partner” to mean your husband, wife or civil partner, or the person you live with as if you are married to them or as if you are in a civil partnership with them.

From 2010 the age from which you can get Pension Credit will gradually increase. This will be in line with the State Pension age becoming 65 for women as well as men by 2020.

To apply for Pension Credit call 0800 99 1234

Lines are open Monday to Friday between 8.00am - 8.00pm

How to apply for Pension Credit

There are three ways to apply for Pension Credit:

Read or print the application form

If you apply for Pension Credit you can now claim Housing Benefit and Council Tax Benefit at the same time. Call us on freephone 0800 99 1234.

If you have speech or hearing difficulties, the textphone number is 0800 169 0133.

You will need the following details when you phone:

*Calls from BT landlines are charged at local rates. Charges for calls from mobile phones, cable and other network providers may be different. We can ring you back if requested.

 Guidance charts

The following charts show if you are likely to get Pension Credit.

To use the charts, you need to:

If they meet inside the shaded area, you may get Pension Credit, and if they meet outside the shaded area, you are less likely to get Pension Credit.

Even if the chart says you are less likely to get Pension Credit, it is still worth contacting us to find out whether to apply.

These charts are only for general guidance. They will not cover everybody’s circumstances, for example the situation will be different for people who are severely disabled or have caring responsibilities. If you are not sure you should contact us on freephone 0800 99 1234.

Here is an example to show how the charts work.

This example assumes that you are a single person aged between 60 and 64 with:

Using the first chart below, you will need to:

The lines meet inside the shaded area, so you will probably get Pension Credit.

Chart for single people aged 60 to 64

Chart for single people aged 60 to 64

Read a text description of the chart for single people aged 60 to 64

Chart for couples aged 60 to 64

Chart for couples aged 60 to 64

Read a text description of the chart for couples aged 60 to 64

Chart for single people aged 65 and over

Chart for single people aged 65 and over

Read a text description of the chart for single people aged 65 and over

Chart for couples aged 65 and over

Chart for couples aged 65 and over

Read a text description of the chart for couples aged 65 and over

Am I entitled to Pension Credit?

To find out if you might be entitled to Pension Credit, you need to add up your weekly net income (after deductions) and savings.

Your income

We only count certain types of income when we work out your Pension Credit. These types include:

You can find out more about Carer's Allowance on the Directgov website.

Types of income that are not counted include:

Your savings

When working out the amount of Pension Credit you might get, we don't need to know about any interest or dividends you get from your savings. Instead, we look at the amount of savings you have and count £1 a week as income for every £500 or part of £500 over £6,000. (This figure is over £10,000 if you live permanently in a care home).

The savings and investments we take into account include:

Remember

Living with your grown up family does not mean that you cannot get Pension Credit. We look at your income – not theirs.

Also, owning your own home does not mean that you cannot apply.

Even if we only award you a small amount it may mean that you can get help with other things such as Housing Benefit and Council Tax Benefit.

The Pension Service can now help you apply for Pension Credit, and claim Council Tax Benefit and Housing Benefit at the same time over the phone.

Examples

Here are some examples to show you how much Pension Credit people with different circumstances might get.

Example 1 - Amy

Amy is single and is 62. She lives in her son's home. The only money she has is her State Pension of £90.70 a week.

Pension Credit will give her £33.35 a week extra. As a result her total weekly income will increase to £124.05.

Example 2 - Balbir and Manju

Balbir and Manju are a couple and are both 75. Their weekly income is as follows:

State Pension (Balbir)

£90.70

State Pension (Manju)

£90.70

Personal pension (Balbir)

£16.00

Savings of £8,000 (we assume £1 of income for every £500 or part of £500 for any savings over £6.000.)

£4.00

Total weekly income

£201.40

Pension Credit will give them £21.31 a week extra (savings credit only). As a result their total weekly income will increase to £222.71.

Example 3 - Betty

Betty is 66. She is single and a severely disabled person. Her weekly income is as follows:

State Pension

£90.70

Attendance Allowance (this is not counted as income for Pension Credit purposes)

£67.00

Savings of £5,000 (we do not assume any income from these savings as they are less than £6,000)

£0

Total weekly income

£157.70

Pension Credit will give her an extra £83.70 a week. (This includes an extra amount of £50.35 because Betty is severely disabled). As a result, her total weekly income will increase to £241.40.

Example 4 - Kathleen

Kathleen is 68 and a widow. Her weekly income is as follows:

Late husband's State Pension

£97.50

Kathleen's work pension

£20.00

Late husband's work pension

£49.00

Savings of £11,500 (we assume £1 of income for every £500 or part of £500 of savings you have over £6,000)

£11.00

Total weekly income

£177.50

Kathleen is not entitled to Pension Credit because her income is too high. She may still be entitled to Council Tax Benefit or Housing Benefit if she is a tenant. The Pension Service would be happy to check Kathleen’s calculations. She should look again if her circumstances change and also every April (when the benefit rates increase) to see if she is entitled to Pension Credit.

Aged 60 or over and under 65?

You are likely to be entitled to Pension Credit if your weekly income is less than:

You may still be able to get Pension Credit if your weekly income is more than these amounts if, for example, you or your partner:

Remember, you must be at least 60 to get Pension Credit but your partner can be under 60.

You can view the examples, use the charts or use the calculator to find out whether or not you are likely to get Pension Credit.

 Aged 65 or over?

If you or your partner are aged 65 or over, Pension Credit guarantees an income of at least:

If either you or your partner are aged 65 or over and have modest savings, investments or income – such as a second pension or annuity – you could get extra money. This could be up to £19.71 a week if you are single, or £26.13 a week if you have a partner. This means that you may still qualify for Pension Credit even if your income is up to:

You may still be able to get Pension Credit if your weekly income is more than these amounts if, for example, you or your partner:

If any of this applies to you, you may still be entitled to Pension Credit, even if the examples, charts or calculator suggest you are less likely to be. 

Dear John. I have received the 'Rank' letter of May 2008,advising the change to Rothesay Life as of June 30th. On balance it is professional and albeit 'caring', BUT, my personal hackles rise whenever I see or read advisement of 'Annuities'. The word 'annuities can represent many aspects of reward in financial terms, not always beneficial. I have no specific reason to doubt the continuance of payment of the pension in current terms of benefit to current and future beneficiaries, but I 'niggle'.
Have you a view? Barbara, perhaps a query/ comment to your financial advisor. Now why don't I ever trust these kind and generous Company People?  Take Care. Bernie.

May '08

http://www.rank.com/about/employment/pension

Sorry I haven't been able to write to you as my computer broke down.  I am now up and running.
I presume you are now living in the UK.  Have you kept all the emails that Barbara has sent to all the staff which came from me regarding the Playboy Pension.  Do write to Ranks and ask them for a pension forcast and do this as soon as possible as our pension will be transferred to Goldman Sach in the next few months.  You won't be able to make any further contribution to the Playboy Pension as this ceased in 1982.
 As for your state pension, there is some very good news for women who will retire before 2010.  I found this information in the Sunday Telegraph and I will type it as it appeared in the paper.
 Plug National Insurance gaps.
If you don't qualify for the full state pension, look at whether you can make additional payments to 'buy back' years where no NI contributions were made.
 This is particularly important for women who will retire before 2010.  They need to have made NI contributions for 39 years to qualify for the full state pension.  Two-thirds of women have not made sufficient contributions because of time spent out bringing up their children.
 For one year only, women have the opportunity to make NI payments for years dating back to 1996, which should bolster their state pension. 
 From April 2009 payments can only be made for the previous six years.
 However, the picture is more complex for women retiring after 2010.  They will only have to make NI contributions for 30 years to qualify for the full state pension.  These new rules make it less likely that additional contributions will be required, but it still makes sense to get a forecast from DWP and check.  Contact the NI Office on 0845 915 5996.  END.
 If you were not working, then you are entitled to pay a reduced rate of NI,
 To get a pension forecast go to www.thepensionservice.gov.uk or you can phone 0845 300 0168.
 I hope you won't mind as I will send a copy of my email to Barbara.
 Best wishes and good luck

Mar '08

Mar '08
Today I have received from Rank Pensions (attached) an acknowledgememt of receipt for my first letter of the 6th January 2008.  That is nearly 2 months ago.  I shall send you details once I have heard from them.
I believe the retirement age to take your pension for men and women is 55.  Anybody due for the pension in the next 5 years would be advised to contact Ranks to make sure their name is on the list.  Once the transfer to Rothesay Life takes place, it is going to be very difficult to do a search thereafter.
Regards
John Ian Wing
Mar '08
What about those of us that went to The Bahamas?
Hi Neil
 I remember this question being raised before and the answer was you had to be working in the UK for 5 years to qualify for the Playboy pension.  There are very strict guideline rules who qualifies.  However, I would advise you to check with Ranks.  Address below, if you write, make sure you send mail as recorded.
 ps: I am sending a copy to Barbara in case someone else is in the same position as you.
 Regards
 John Ian Wing

Jan '08

Hi Barb
 Ranks are still at it again, they keep forgetting to increase my pension 3% pa.  I hope others are keeping track of their pension.
Here is a copy of my letter to them.
 The Pension Administrator

Rank Pension Plan Trustee Limited

Jardine Lloyd Thompson Administration Solutions

PO Box 178

The Havens

Ransomes Europark Ipswich IP3 95Z

29th January 2008-01-29

Your Ref:

  Dear Sir/Madam

Membership Number: .  Date of Retirement:  18 November 2004

National Insurance Number:

I have enclosed a letter from Dave Humphrey Administration Specialist for your information.  It explains that I should receive under the Playboy Pension Plan, a 3% per annum increase from inception which is 18 November.  Adjustments were made and a refund was granted.  However, I notice that an increase was not made last November.  I would appreciate if you could look into this matter and adjust the increase to my pension.  Also it would help in the future, if the computer programme is adjusted accordingly.

I thank you for your assistance.

Yours faithfully

  John Wing

  John Ian Wing
www.johnwing.co.uk

Sep '06

WINTER FUEL PAYMENT
If you are aged 60 or over on the 24th September 2006, you are entitled to
£200 before next Christmas.  This payment will be made to you every Christmas.
If you have moved home in the past few years, The Pension Service will not
know where you are living so you will need to contact them.
For more information, you can phone the Winter Fuel Payment helpline on
0845 9 15 15 15.  The line is  open from 8.30am to 4.30pm.  The Pension
Service website is: www.thepensionservice.gov.uk/winterfuel
Have you got your Freedom Pass.  This will allow you to travel on the
tube, bus or train for free anywhere in London up to Boundary 6. (Zone 6).
Remember if you want to travel outside Zone 6, you must ask for a ticket
from Boundary 6 to your destination.        John Wing

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