Equity Release to Benefit From Novembers New 10,000 Pound Pension Credit Limit
This November, under the budget changes made in April, sees the pension credit limit being raised from £6,000 to £10,000. The effects of this would be felt by over 500,000 pensioners on modest incomes & should result in additional income of upto £8pw.
The current capital disregard limit of £6,000 has been present for the past decade. Previously, any savings above this level of savings reduced the amount of benefits a person would get from pension credit.