Active You -Company urges pensioners to benefit from changes to pension credit rules

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Home »News »Finance News

Company urges pensioners to benefit from changes to pension credit rules

27/10/2009

Pensioners have been urged to benefit from pension changes announced by Alistair Darling.

In his budget speech the chancellor said: "For over a decade, the capital disregard on Pension Credit has been at £6,000 or below. It means savings above this level reduce the amount of help households get through Pension Credit. I believe it is now time to increase these limits."

From November 2nd, the increase will see the capital disregard for Pension Credit increased to £10,000 for those aged 60 and over.

According to equity release company Key Retirement Solutions, under means-testing those eligible for Pension Credit will be allowed capital up to this level without it affecting their benefits.

Similarly, people who wish to release capital from their homes through an equity release scheme will be able to release greater funds than previously.

According to the Daily Mail, equity release is a good way for older people to get access to the money they've built up in their homes without having to move.

Get a free equity release guide and find out how you can get some additional income.

Posted by Carla Spuri. ADNFCR-2295-ID-19429141-ADNFCR

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