PC10 Pension Credit - Communities and Local Government

How will Pension Credit help you?Each part of Pension Credit – the guarantee credit and the savingscredit – is worked out separately. Some people will get both; otherscould get either one. Which you get and the amount paid to youdepends on your age and income, as explained on pages 9 to 11.This part of the guide explains how they are made up and how wework out your entitlement. We discuss the guarantee credit belowand the savings credit on page 25.The next part of the guide – ‘How do we work out your income?’ –shows how we calculate your income (including income from capital)and explains how this affects the amount of Pension Credit you get.At the end of the next part we include some examples (pages 45to 47) to show how Pension Credit works in different ways fordifferent people.SPCA s2The guarantee creditThe guarantee credit is the difference between your appropriateamount and your income, which may include a deemed incomefrom your capital (see page 35 for an explanation of deemedincome). This part of the guide explains how your appropriateamount and your income are worked out.Your appropriate amountYour appropriate amount 6 will be made up of:●the standard amount 7 – this is the minimum amount of moneythe Government says you need for your normal expenses andthose of your partner, if you have one.It may also include some or all of the following extra amounts: 8●●extra amount for severe disability;extra amount for carers;6 This is called the appropriate minimum guarantee in the legislation.7 This is called the standard minimum guarantee in the legislation.8 These are called additional amounts in the legislation.13