Regulation 3 Amendment of the State Pension Credit Regulations 2002

Regulation 15 (income for the purposes of the Act) is amended in accordance with this regulation.

For paragraph (6) substitute—

“(6)

For the purposes of section 15(2) (deemed income from capital) and subject to regulation 17(8) (capital to be disregarded), a claimant’s capital shall be deemed to yield a weekly income of—

(a)

£1 for each £500 in excess of £10,000; and

(b)

£1 for any excess which is not a complete £500.”.

Omit paragraphs (7) and (8).