Pension Credit - Who qualifies for it, and how much will it be?

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Pension Credit - How to work out your income

You simply calculate all the income that you receive from pensions and earnings, then, add them to any savings that you are receiving money from, including; Peps, Tessas and Isas.

First £6,000 of savings

The first £6,000 of your savings is not taken into account, however if you have over £6,000, then the government assume that you receive £1/week/£500 of your savings or investments.

Any income that you receive on a yearly basis (for the sake of calculation) can be excluded.

In addition to this you can ignore some other benefits that you may receive, such as; attendance allowance, disability living allowance, housing benefit and council tax benefit.