Published On: Tue, Mar 24th, 2020

State pension: Pension credit has separate age qualifying rules and this is what they are | Personal Finance | Finance

State pension age is gradually being increased to 66. From October, state pension age will be 66 for both men and women and the state have plans to increase it to 68 in the coming years.

Guarantee credit, much like state pension, has qualifying age rules.

Currently, it is possible to receive guarantee credit once a person reaches 65 and two-three months.

However this will be changing next week. From April 2020, the qualifying age will be 65 and eight-nine months.

It should be noted that unlike state pension, pension credit does not take national insurance contributions into account.

The government detail that the quickest way to check on eligibility is by phone.

There is a dedicated pension credit claim line for this but it is also possible to apply through paperwork.

To claim, a person will need their national insurance number, information about their income, savings and investments as well as details for their bank account.

It is possible to backdate a pension credit claim but this can only be backdated by three months.

If an application isn’t accepted, the claimant has a right to challenge the decision under “mandatory reconsideration”.

If the claimant is eligible, they will be required to keep the government updated on any change of circumstances that may affect their claim.

A claim could be stopped or reduced if changes aren’t reported immediately.

Some of these changes include if the claimant starts or stops working, goes into hospital, moves house or switches bank account details.

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