Paragraph 40 I1

England and Wales

(1)

Where A is in receipt of savings credit as a person who has no partner and has qualifying income not exceeding the standard minimum guarantee—

(a)

the amount of that savings credit where the amount received is £5.75 or less; or

(b)

£5.75 of that savings credit where the amount received is greater than £5.75.

(2)

Where A—

(a)

has no partner;

(b)

has attained the age of 65; and

(c)

has qualifying income in excess of the standard minimum guarantee,

a sum of £5.75.

(3)

Where A is in receipt of savings credit as a person who has a partner and has qualifying income not exceeding the standard minimum guarantee—

(a)

the amount of that savings credit where the amount received is £8.60 or less; or

(b)

£8.60 of that savings credit where the amount received is greater than £8.60.

(4)

Subject to sub-paragraph (5), where A—

(a)

has a partner;

(b)

has—

(i)

attained the age of 65; or

(ii)

has attained pension credit age and A’s partner has attained the age of 65; and

(c)

has qualifying income in excess of the standard minimum guarantee,

a sum of £8.60.

(5)

Where—

(a)

the sum referred to in sub-paragraph (4) has been disregarded in the assessment of A’s partner’s income under these Regulations; or

(b)

A’s partner is in receipt of savings credit,

sub-paragraph (4) does not apply to A.

(6)

For the purposes of this paragraph—

(a)

A has a partner if A would be considered to have a partner for the purposes of the Pension Credit Regulations;

(b)

“qualifying income” (“incwm cymhwyso”) is to be construed in accordance with regulation 9 of the Pension Credit Regulations and for the purposes of sub-paragraphs (3) and (4) the person’s qualifying income includes any qualifying income of the A’s partner;

(c)

“standard minimum guarantee” (“gwarant isafswm safonol”) means, for the purposes of—

(i)

sub-paragraphs (1) and (2), the amount prescribed by regulation 6(1)(b) of the Pension Credit Regulations; and

(ii)

sub-paragraphs (3) and (4), the amount prescribed by regulation 6(1)(a) of the Pension Credit Regulations.

Annotations

Commencement

I1: Sch. 1 para. 40 in force at 6.4.2016, see reg. 1(2)