Pension Planning - Minimum Income Guarantee

Pensions Quote Line

0845 108 0505

• Home
• Credit Cards
• Loans
• Investments
• Life Insurance
• Mortgages
• Insurance

Minimum Income Guarantee

The government ensures that that pensioners will not have less than a certain amount to live on, this amount is known as the minimum income guarantee. If your income from all sources, i.e. state pensions, private pensions and investments, adds to less than the MIG then you are entitled to receive income support from the government.

Usually if your saving add up to more than £6,000 you are entitled to a reduced amount of benefit, and should your saving add up to more than £12,000 you are not entitled for any support.

Minimum income guarantee

*May be subject to change

<< BACK TO INFORMATION >>

---

Pensions.co.uk is part of a large network of financial sites created to help advise you on life events, such as buying a house, Mortgages.co.uk; insuring your car - CarInsurances.co.uk; your life - LifeInsurance.co.uk; and your home - HomeInsurance.co.uk.

1998 - 2007 UK Pensions - Planning before, at the onset and during retirement.