Thousands of Brits are applying for Pension Credit in a bid to keep their Winter Fuel Payments this year. Many may think they're ineligible due to having a weekly income above £218.15 for singles or over £332.95 for couples.However, certain types of income aren't included in the means-tested benefit.
Your weekly income is calculated by adding together certain forms of income, savings and investments:If you've deferred your pension, be it state, personal or workplace, the amount you would have received if you hadn't deferred it is still counted towards your income.Plus, every £500 saved or invested over £10,000 is counted as £1 of income.
Brits can still qualify for Pension Credit even if they earn more than the weekly thresholds because some benefits aren't counted towards your total income:Pension Credit consists of two parts, which can be claimed separately.
The first part, Guarantee Credit, depends on your income calculation and will top up your weekly income to £218.15 for single people or £332.95 for couples.
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